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7.65%Over Half of Investors Think Bitcoin, Tesla Stock Are Biggest Bubbles: Deutsche Bank Survey
One-quarter of respondents think bitcoin could double its price to north of $70K by the start of 2022.
More than half of the market professionals polled in Deutsche Bank's latest investor survey think bitcoin and tech stocks – namely electric-car maker Tesla – are at the top of the list of bubbles in the financial markets.
CONTINÚA MÁS ABAJO
- The research, conducted from Jan. 13–15, indicated that 89% of the 627 market professionals polled think certain financial markets are currently caught in a bubble, as reported by CNBC on Tuesday.
- Of all respondents, 56% believed bitcoin is more likely to halve in value over the next 12 months. An even larger 62% thought Tesla would see the same drop.
- Bitcoin is viewed as an extreme case by half of the respondents, who rated the top cryptocurrency by market value at 10 on a 1–10 bubble scale.
- However, around a quarter of respondents believed bitcoin could likely double in value by the same time next year, meaning its price tag could sit somewhere north of $70,000.
- More than two thirds of the professionals surveyed believe the U.S. Federal Reserve will not end its stimulus program before the end of 2021 – a possible catalyst for further growth in the fintech sector.
See also: Bitcoin Becomes Most-Crowded Trade After Passing ‘Long Tech’: Bank of America Survey
Sebastian Sinclair
Sebastian Sinclair is the market and news reporter for CoinDesk operating in the South East Asia timezone. He has experience trading in the cryptocurrency markets, providing technical analysis and covering news developments affecting the movements on bitcoin and the industry as a whole. He currently holds no cryptocurrencies.
