Bank of America: Bitcoin is currently the most crowded trade in the world

The monthly survey issued by Bank of America Merrill Lynch Fund managers states that Bitcoin, the most popular cryptocurrency, is now also the most crowded trade. This statement is backed by measurements one can’t argue with: 200 global fund managers who operate a total sum of $600 billion were interviewed. The BofA surveys are considered extremely precise and trustworthy amongst financial experts and market players of America.

Now that the bullish trend seemingly comes to its end, the situation might change in the next months and Bitcoin will no longer be the most crowded trade, as it has many influential competitors. However, the long-term cryptocurrency investments will not be withdrawn simultaneously and instantly just because the price of Bitcoin can become lower. Other crowded trades are doing good as well: the interest in Nasdaq and the United States dollar from the market participants is currently growing too.