Over half of the market professionals polled in Deutsche Bank’s latest investor survey think Bitcoin and tech stocks are at the top of the list of bubbles in the financial markets.
The research was conducted from Jan. 13–15, 2020 and it indicated that 89% of the 627 market professionals polled think certain financial markets are currently caught in a bubble, CoinDesk cited a CNBC report.
Of all respondents, 56% believed Bitcoin is more likely to halve in value over the next 12 months. 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 25 % of respondents believed Bitcoin could likely double in value by January 2022, meaning its price tag could sit somewhere north of USD 70,000.
An even larger 62% thought Tesla shares would see the same drop over the next 12 months.
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