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.
Deutsche Bank survey on Financial Bubbles
Source: Sam Ro - Managing editor of Yahoo Finance
  • 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

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