Bitcoin is a bubble, inflation is temporary

The results of their newest Bank of America survey reveal that many financial fund managers believe that Bitcoin is a bubble, inflation is just temporary.

The latest survey conducted by Bank of America of hundreds of fund managers in the US discovered that many people rate the volatility of Bitcoin.

Specifically, the majority affirm bitcoin has value when it comes to long-term investments. Moreover, many people also hold the belief that Bitcoin is in a bubble, while the high rate of inflation in the US is temporary, it may pass in the not too distant future.

The June Global Fund Management Survey conducted by Bank of America from June 4 to June 10 gets the results and will be formally announced this week. There are 224 fund managers in total, in charge of handling up to 667 billion USD.

In the poll, they have been asked about many problems that many investors are worried about, like how the position of the market and market in america and around the world affects the allocation of resources. investment force.

Questions even revolved around the fact that how much money these top professionals are holding from their customers, which investment trades they believe overdue, etc.

The many popular kinds of investment assets now include short-term transactions in commodities, Bitcoin, technology stocks, ESG and the euro. In that, short-term Fed (US Federal Reserve) transactions are also highly popular.

Although that the Bitcoin cost has dropped by almost 40% since mid-May until today and has continued to rise and fall erratically at $40,000, still 81 percent of the fund managers surveyed believe that Bitcoin are at the bubble.

The 81% figure is a small increase from May when at the moment, only 75 percent of those surveyed spoke of Bitcoin being in a bubble. Bank of America itself has also warned that the cryptocurrency is in a bubble and could “break” at any time.

Even in a statement in January of the year, when Bitcoin price momentum was ideal, a chief investment strategist in the lender likened Bitcoin into the “mother of all bubbles” in the market.

Meanwhile, 72 percent of fund managers say that inflation in the US is temporary — like the opinion of the Fed. Howeverup to 23 percent of respondents continue to be pessimistic about inflation becoming permanent.

Fed Chairman Jerome Powell has repeatedly used the term “transient” to describe the threat of inflation into the US economy. However, many financial experts have suggested that they disagree with this view, such as prominent hedge fund manager Paul Tudor Jones and JPMorgan CEO Jamie Dimon.

With fans of electronic assets generally, Bitcoin specifically, Bitcoin has always been believed to be a hedge against inflation, largely because of its potentiality, ability to raise cost, lack, and less limitations. .

Many people also liken Bitcoin to gold. However, reality has shown that bitcoin has very little stability, the purchase price can rise to a list of more than $60,000 and then plummet to close to $30,000 in a short while.

Recently, there have been a lot of comments and perspectives about Americans flocking to Bitcoin due to inflation concerns. Inflation in this country reached the maximum level in the past 13 years. Even so, there are still many individuals who doubt whether Bitcoin is a truly safe-haven.

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According to Vietnambiz
Compiled by ToiYeuBitcoin