- A Deutsche Bank survey predicts that Bitcoin price will dip 50%.
- 90% of experts say Bitcoin and Tesla are in bubble territory.
- Bitcoin could experience a massive investor dump.
A survey from Deutsche Bank reveals that almost 90% of experts believe some financial markets are in bubble territory.
The German bank surveyed over 600 market experts from Jan 13 to 15. The results revealed that Bitcoin and the US Tech category scored 10 and 7.9 out of 10, respectively, on a bubble scale. This means that they expect these market prices to fall at some point.
When asked directly about the future of Bitcoin and Tesla, most experts predicted a 50% price drop. In fact, most experts consider Tesla to be a representative of the US Tech bubble.
JP Morgan analysts have also warned that unless Bitcoin rebounds to its $40,000 price, the cryptocurrency could experience a massive investor exodus.
Speculative investors cashed in on the asset after it gained over 300% at the end of 2020. But for these investors, if the current price stall persists, it will lead to them looking to other investment options.
JP Morgan analyst Nikolas Panigirtzoglou, however, predicts Bitcoin will rise to $100,000 by the end of the year.
In the past, Deutsche has made bold crypto predictions including the Multi-trillion dollar by 2030 question in 2019. Hence, time will show if either prediction will come true or the bank will turn out to be a false prophet.