Analysts of the largest US banking holding Morgan Stanley have made a disappointing forecast for the cryptocurrency market: if bitcoin does not become a full means of payment, its value may drop to close to zero marks in the near future.
A leading world news portal Business Insider quotes James Fawcett, an employee of the banking holding Morgan Stanley. He said: “In the event that bitcoins are not accepted as a means of payment, their value will be equal to zero.”
Analysts of the bank conducted a market analysis and made a discouraging for the cryptocurrencies conclusion: from half a thousand of the largest Internet retailers, only three of them accept bitcoins as a form of payment.
In addition, professional analysts of foreign exchange markets note the fact that the trading volume in the cryptocurrency market is extremely small compared with the trading volume in the world foreign exchange market.
Learn from this: the daily trading volume in the world foreign exchange market is 5.4 trillion US dollars; the daily trading volume in the cryptocurrency market is $ 3 billion.
Only yesterday, the rate of the most popular cryptocurrency soared to $ 15,033 per bitcoin (the daily growth was 9%). Two days earlier, bitcoin showed a sharp drop – by 14% during the day.
The material was prepared with the participation of Katya Gordon,
a leading analyst of the brokerage company CT Trade