🔥🚀 Ex-Morgan Stanley reveals the reason behind Bitcoin's decline and predicts a sharp rise soon! 🚀🔥
Bitcoin has faced pressure in recent days, currently trading around $110,412, down 1.84% over the last 24 hours and 11% lower than its peak on August 14 at $124,517.
📉 Reasons for the decline:
A massive sell-off from a single whale amounting to 24,000 BTC worth over $2.7 billion, temporarily pushing the price below $109,000.
Six consecutive days of outflows from Bitcoin investment funds (ETFs), totaling $1.188 billion.
Bitcoin is linked to the stock market and the technology sector, and a slowdown in investment momentum in artificial intelligence has led investors to withdraw their funds from Bitcoin.
💡 Opinion of Jordi Visser, former director at Morgan Stanley:
Optimistic about Bitcoin despite the current decline.
He expects a sharp upward movement soon, citing that the overall economic conditions support its rise.
He sees institutions and hedge funds playing a larger role now in Bitcoin markets, which could create sharp volatility in its favor.
Investors may return to Bitcoin as the momentum of tech giants fades, as Bitcoin will become their option to profit from technology and liquidity.
⚠️ Note: This content is for informational purposes only and is not investment advice.
