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The most recent Bank of America Fund Manager Survey finds that the most crowded trade is “long bitcoin.” Nonetheless, 75% of fund managers say the cryptocurrency is in a bubble zone. Fund Managers Say Long Bitcoin Is Most Crowded Trade but Most See Bubble The Bank of America (BoA) Fund Manager Survey for May, published … Read more
Bank of America noted that trades identified as “crowded” have historically been associated with incoming market tops. Go to Source Powered by WPeMatico
Joining the Paxos Settlement Service could allow many Bank of America customers to settle stock trades in minutes rather than days. Go to Source Powered by WPeMatico
Hundreds of banks in the U.S. will reportedly start offering access to bitcoin to their customers this year, thanks to a partnership between Fidelity National Information Services and the New York Digital Investment Group. Hundreds of banks have enrolled to participate in the program as they see funds moving from bank accounts to crypto exchanges. … Read more
The most recent Bank of America Fund Manager Survey shows that about three out of four professional investors think that bitcoin is a bubble. The fund managers also rated bitcoin second on the list of the most crowded trades. Recently, investment bank JPMorgan also warned that cryptocurrency as a sector is in a bubble. Bank … Read more
Bank of America asked 200 professional investors with $533 billion in assets under management about their opinions on Bitcoin. Go to Source Powered by WPeMatico
New research from the multinational investment bank confirms what many of us knew all along: Investors should never try to time the market. Go to Source Powered by WPeMatico
Bank of America strategists have estimated that it takes in-flows of just $93 million to move Bitcoin’s price by one percent. Go to Source Powered by WPeMatico
Bank of America sees no good reason to own bitcoin other than “sheer price appreciation.” The firm’s strategists found that the cryptocurrency’s “inflation hedging benefits are not particularly apparent.” Bank of America also claims that bitcoin does not offer diversification benefits and is “impractical as a store of wealth or payments mechanism.” Bank of America … Read more
According to findings of a recent Bank of America (BOA) survey, buying bitcoin has now surpassed tech stocks as the most crowded trade. This new ranking means tech stocks have been relegated into second place for the first time since October 2019. Bitcoin Bubble Ranking Still, a majority of the interviewed fund managers believe bitcoin … Read more
