As per the 2019 Cayman Alternative Investment Summit (CAIS) survey, investors think that crypto represents a bubble, as an asset class. The results of the survey were provided in a press release shared with Cointelegraph, a crypto media outlet on Feb. 25.
To prepare the survey, researchers allegedly examined roughly around a hundred alternative investors and managers, who participated at the Cayman Alternative Investment Summit’s 6th annual conference from Feb. 6 to Feb. 9, 2019.
Interestingly, the study showed that forty-five percent of the surveyed investors consider digital currency the asset class that presently most represents a bubble. Twenty percent, nineteen percent and sixteen percent of respondents said they think that United States equities, the leveraged loan market, and private credit characterize a bubble, respectively.
Furthermore, when asked about the technological shifts most probable to influence the market, forty-five percent of respondents named machine learning and automation. On the other hand, around thirty-eight percent supposedly presume that blockchain might have the largest impact worldwide.
Matt Hougan, Global Head of Research at Bitwise Asset Management and president at ETF.com, mentioned, earlier in February, that there is a lot of what he defines as bubble-related bad activity in the cryptocurrency and digital asset sector that is presently “getting cleared up.” At the same time, Hougan pointed out that he is way more bullish on crypto and virtual assets as compared to the blockchain.
A former Goldman Sachs partner and founder of cryptocurrency merchant bank Galaxy Digital, Mike Novogratz mentioned, in an interview with Bloomberg TV, that the crypto domain is not going to bubble back up, citing $8,000 as a reasonable medium-term price point for Bitcoin.