Bitcoin And Tech Stocks – Namely Electric-Car Maker Tesla – Are At The Top Of The List Of Bubbles In The Financial Markets.
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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. 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 would not end its stimulus program before the end of 2021 – a possible catalyst for further growth in the fintech sector.
This news was originally published at Finance Yahoo.