Morgan Stanley Says Ether Underperformance Echoes Crypto Downturn of 2018
— Technical, Levels, Crypto, Investors, Bank said, Slide, Level, Ether, Quantitative tightening, Obvious technical levels — 1 min read
Any investors who bought BTC in the last year are now at a loss, the bank said. There are no obvious technical levels to watch until about $19,500, the 2017 high, it added. The bank said the crypto-equivalent of quantitative tightening has continued, fueling BTC’s slide to below $28,000, an important technical level. Any investors bought BTC at the start of the year at a price of $1,000 is now a loss. Any buyers who bought Bitcoin in the past 12 months are now likely to be at a profit, it said. The price of Bitcoin is now at around $20,000 per day, according to the bank's website. The market is expected to stay at $28. Source