Survey reveals almost half of alternative investors think BTC is a bubble

26 Feb, 2019
by Richard Allen
Survey reveals almost half of alternative investors think BTC is a bubble

According to the results of a recent Cayman Alternative Investment Summit (CAIS) survey, investors believe that, as an asset class, cryptocurrency is a bubble.

Researchers asked around 100 alternative investors and managers from February 6 to February 9, 2019. The results, which were shared with CoinTelegraph, state that 45% of respondents believe digital currencies represent a bubble. 20% believe the US equities market is a bubble, while 19% and 16% believe the leveraged loan market and private credit represent a bubble, respectively.

Respondents were then asked what technological shifts they felt would have the biggest influence on the market. 45% stated automation and machine learning, while 38% believe blockchain will have a larger impact on the global market.

Earlier this month, founder and CEO of Galaxy Digital, Mike Novogratz admitted that the cryptocurrency sector was a bubble back in 2017. However, he states that, even though the bubble popped, it's far from the end of cryptocurrencies. He adds that the benefits of such a pop include “the process of handing off ownership… from retail to institutions.”  

Read more: Bitwise researcher: "Death" of 95% of crypto might not be a bad thing...

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