New research released by Bank of America and Deutsche Bank reveals investment markets‘ impression of the Bitcoin moment.
Two surveys released separately by Deutsche Bank and Bank of America revealed the perception of major global investment managers about the Bitcoin (BTC) boom, as reported by the newspaper O Globo.
Analyst suggests ‚imminent‘ collapse and BTC closing the month above US$48,000
The largest cryptomeda has experienced a long period of appreciation since the crash of March 2020, when the coronavirus outbreak and the onset of the global economic crisis brought Bitcoin to US$4,000.
Ten months later, cryptomoeda recorded a new historic high of US$ 42,000 still in January and today costs US$ 37,000, an appreciation of over 900%.
The reasons for Bitcoin Legacy long rise are many, from halving that put more pressure on the production of cryptomoeda to the beginning of the institutional race in 2020, something that was seen as a trend for the new year. In addition, the issue of trillions of dollars, with the increase in inflation and the devaluation of the national currencies, also constibuted to the soaring.
Bitcoin also began to rival gold, historically an asset of economic protection, as an alternative protection against inflation, in addition to investment.
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In the published researches, the financial market is reticent when it comes to the brief future of cryptomeda. In the Deutsche Bank report, half of the managers who responded to the survey believe that Bitcoin is experiencing a bubble phase.
For the next 12 months, the managers consider that the largest cryptomoeda is more likely to have a crash, losing half of its value, than having one shot that leads it to double its price.
Besides this perception about Bitcoin, investors also consider that the shares of Tesla, the billionaire Elon Musk, lives in a period of bubble, about to burst. Over the course of 2020, the shares of the Musk company registered a valuation of over 700%.
On the other hand, Bank of America’s survey revealed that the purchase of Bitcoins has become the main strategy of managers, taking the place of technology shares for the first time since October 2019.
Despite the good news, investors are not optimistic. According to them, the current valuation is a „herd effect“ and is subject to sudden drops.
Bitcoin leaves national currencies ‚eating dust‘, appreciates 56% in a month and is the currency that rose most against the dollar in the world.
Bitcoin’s current consolidation phase in the last two weeks, with part of the traders defending that the correction is healthy and can sustain a new bullish period. Others, however, say that the cryptomoeda may fall to $ 27,000 and enter a bearish market after more than a year in a high trend.