THELOGICALINDIAN - The best contempo Coffer of America Armamentarium Manager Survey shows that about three out of four able investors anticipate that bitcoin is a balloon The armamentarium managers additionally rated bitcoin additional on the account of the best awash trades Recently advance coffer JPMorgan additionally warned that cryptocurrency as a area is in a bubble
Bank of America Survey Shows Most Fund Managers Think Bitcoin Is a Bubble
The Bank of America Armamentarium Manager Analysis for April shows that the majority of armamentarium managers see bitcoin as a bubble. The analysis asks 200 armamentarium managers with $533 billion in assets beneath management.
Answering the catechism of whether bitcoin is a bubble, 74% of investors replied “yes.” Just 16% said “no” to the catechism and 10% said they either did not apperceive or did not appetite to acknowledgment the question. In comparison, alone 7% of investors anticipate that the U.S. disinterestedness bazaar is in a bubble. Most respondents anticipate that the disinterestedness bazaar is in “a late-stage balderdash market.”
The armamentarium managers who responded to the analysis additionally rated bitcoin additional on the account of the best awash trades, with 27% said BTC was the best awash trade. Technology stocks rank aboriginal with aloof over three in 10 respondents citation tech as the best awash trade.
Nonetheless, about 10% of armamentarium managers still accept that bitcoin will beat in 2024.
Bank of America has been adage that bitcoin is in a balloon for months. Earlier this year, Michael Hartnett, arch advance architect at Bank of America Securities, said that bitcoin looks like “the mother of all bubbles.” In March, the bank’s architect said that the alone acceptable acumen for captivation BTC is “sheer amount appreciation.”
Recently, advance coffer JPMorgan additionally called cryptocurrency as one of the sectors it believes is in a bubble. Despite this view, the close has predicted that the amount of bitcoin could ability $130,000 in the continued term.
What do you anticipate about the Bank of America analysis suggesting that bitcoin is a bubble? Let us apperceive in the comments area below.
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