According to Morgan Stanley Bank, many investors invested in bitcoin and other digital currencies in the fall of 2021. They bought amid the record high value of BTC, as most market participants expected the rally to continue.
In 2022, the situation has drastically worsened, and bitcoin has lost about 70% in value. Those investors who bought at the peak are still refusing to sell the cryptocurrency. They are waiting for the resumption of the BTC rally to drop the asset on the most comfortable terms, Morgan Stanley analysts predict.
The report says that about 78% of bitcoins have not been involved in transactions in the past six months.