55% of those polled by Bloomberg say Bitcoin is in a bubble

In a poll conducted by Bloomberg, 55% of respondents say that Bitcoin is in a bubble. The poll was published

In a poll conducted by Bloomberg, 55% of respondents say that Bitcoin is in a bubble.

The poll was published on July 16 as part of its Global Poll feature, which covers a range of topics including central banks, trading, global economy, leadership, morality- and bubbles.

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On Bitcoin, another 14% Bitcoin is on the verge of a bubble, while only 6% believe a bubble is not forming. 25% were unsure.

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Bitcoin poll
Results of “Where bubbles are forming poll” conducted by Bloomberg

Out of the 6 categories polled for bubble-like behavior, Bitcoin had the highest percentage saying it already exists. However, “Internet and social networking stocks” have highest percentage (80%) believing that a bubble is either in progress or on the way. The sector has gained multifold in recent years in a pattern somewhat reminiscent of the dot com bust in 2000, although many point out that this time around, companies are making money.

Only 5% believe the US housing market is in a bubble, much of it still beaten up from the 2008 collapse.

The indication is that respondents’ intentions were that a bubble exists in Bitcoin prices, not necessarily in the technology itself. Last fall, Bitcoin prices increased by over 900% in two months, followed by a collapse of over 60%.

In Bloomberg’s branding for the bubble topic, the above “I want Bitcoin” image is featured.

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