Bitcoin and tech stocks have bubble potential
According to the US television channel CNBC, respondents of Deutsche Bank currently consider Bitcoin and tech stocks to be the biggest market bubbles.
According to the US broadcaster CNBC, Deutsche Bank surveyed 627 market experts, the majority of whom (89 per cent) said some financial markets are heading towards the realm of a bubble. Bitcoin and shares of technology companies from the USA were the main focus. According to the survey, half of the respondents gave Bitcoin Up the highest rating, based on a financial bubble scale of 1 to 10. US tech stocks came in second with an average score of 7.9 out of 10, with 83 per cent giving a rating of at least 7.
According to the survey, some investors believe that in addition to bitcoin, the share price of electric car maker Tesla will also fall. Deutsche Bank said:
When asked about the 12-month fate of Bitcoin and Tesla – a stock emblematic of a potential tech bubble – a majority of respondents believe they are more likely to halve than double from this level, with Tesla more vulnerable, according to recipients.
Scepticism about Bitcoin also high in Germany
Scepticism about Bitcoin is also high in Germany. This was determined in December last year by the digital association Bitkom in a representative survey. According to the survey, only two percent of people over 16 said they had invested in cryptocurrencies. Around one fifth (18 percent) could imagine investing. The rest of the respondents expressed scepticism about Bitcoin and Co. even though the share of those who said they had heard or read something about cryptocurrencies has risen significantly (76 percent).
Specifically, 66 percent of those surveyed thought digital means of payment were too complicated. 55 percent said that cryptocurrencies were more suitable for speculators. However, three out of ten participants said that Bitcoin and Co. were a safe alternative to the established monetary system. Among 16 to 29-year-olds, the figure was as high as 43 percent. In addition, one in four considers long-term investments in digital assets to be sensible. A total of 1,004 people were surveyed nationwide.