A variety of respondents to a new poll by brokerage firm Triad Securities said they believe Bitcoin is in a bubble ready to crash.
The poll was conducted earlier this month by Triad based in New York and Datatrek Research and received responses from 317 institutional operators. Of these, slightly more than half are active for buyers, about 10 percent and 8 percent of providers / service providers.
The results of the survey showed that more than 39 percent of respondents said they think, “It’s a bubble: it needs to collapse.” Twenty-seven percent said they believe Bitcoin prices, albeit slower, continue to rise than recent moves, while about 16 percent had an optimistic tone calling for a doubling of price over the next six months. Seventeen percent gave no opinion on this topic.
This split was even more evident in the data, as around 31 percent of respondents said they had actually bought Bitcoin. Another 36 percent said they had considered buying something, but had not yet done so, while 30 percent, according to Triad, said “no, never”. About 1.5% of respondents said they were unfamiliar with cryptocurrencies.
The data came from a group that focused heavily on those over 35 years old. More than half of respondents said they were over 45 years old. Around 20 percent of respondents were 34 or younger.
Some of the survey questions related to Initial Currency Offers (ICO) or sales of cryptographic data that can be used to start a new Blockchain network.
As expected, relatively few respondents, around 8 percent, said they had invested in symbolic sales.
That is, 29 percent said they had “thought about investing in them,” although another 15 percent said they would only do so if additional regulations came into force.
The survey also provided some details about the factors that institutional operators would consider before investing in an ICO. When were they asked to choose three from a list of possible key considerations, respondents prioritized “founders / key employees” “total addressable market” and the general nature of tokens.