Hankyung DB
On the 19th (local time), an expert evaluation came out that bitcoin and stocks of US technology companies were the most bubbling assets.
According to CNBC, an investment bank Deutsche Bank conducted a survey of 627 market experts on the 13th-15th, and 89% of respondents said that some financial markets have entered the bubble. They named Bitcoin and US tech stocks the most bubbly assets.
When asked to rate the level of the bubble from 1 to 10 points, half of the people who rated Bitcoin’s bubble level as 10 points reached half. The recent bitcoin price is more than 800% higher than the low in March last year.
For US tech stocks, 83% of respondents rated the bubble as 7 or higher. In particular, there were many prospects of concern about Tesla’s stock, an electric car maker, which is a symbol of technologyism. Deutsche Bank explained, “When asked about Bitcoin and Tesla’s outlook for the next 12 months, the majority of respondents expected the price to be cut in half at the current level.”
Experts saw Bitcoin, Tesla, and US tech stocks all in a bubble, but they weren’t sure when the bubble would burst. The’excess liquidity’, which is the cause of the asset bubble, is expected to remain for the time being. 71% of respondents predicted that the U.S. Central Bank (Fed) would not implement a tightening policy before the end of the year.
Meanwhile, Ethereum, the second-largest cryptocurrency market capitalization after Bitcoin, is close to its all-time high. According to CNBC, on that day, Ethereum soared 17% during the intraday, rising to $1439 at one time and then slightly falling. It is close to the all-time high ($1448) recorded in early 2018. Ethereum has nearly doubled in the new year. It jumped from the $720 level earlier this month to around $1440 in almost three weeks.
Reporter Lim Hyun-woo [email protected]
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