21% of fund managers surveyed by BofA said "long bitcoin" is the most crowded trade, compared to 43% who said so last month.
"To the extent investors are worried about medium-term inflation risks, they should probably hedge this threat using traditional securities such as gold."
43% of fund managers with $625 billion assets under management surveyed by BofA said that "long Bitcoin" is the most crowded trade right now.
Bitcoin could fade away just like the once-dominant Netscape Navigator, the chief investment officer of Kleinwort Hambros said.
Some view the cryptocurrency as a hedge against inflation, though Taleb says the coin has no connection to rising prices.
Marks said the people who bought bitcoin when it was trading at just $5,000 so far seem to have made the right decisions.
Although bitcoin is quickly approaching resistance, it remains tens of thousands of dollars away from entering into "overbought" territory, Kraken said.
Bitcoin tumbled 8% Monday after hitting a record above $US58,000 for the first time over the weekend. On Sunday, Bitcoin hit $US58,042, for a year-to-date gain of over 100%. The popular cryptocurrency surged 305% in 2020. Sign up here for our daily newsletter, 10 Things Before the Opening Bell Bitcoin […]
Bitcoin fell below $48,000 on Monday after notching a series of highs in the past week. The token reached a $1 trillion market cap on Friday.
Will Hobbs, CIO at Barclays Wealth & Investments, said bitcoin is "multiples more volatile than our most white-knuckle-ride asset class."
An early bitcoin adopter says the best time to buy is when no one’s talking about it. He started out with an initial purchase of 2.5 bitcoins in 2013, when the token was trading around $US100. The buyer, who prefers to remain anonymous, lost 16 bitcoins in the 2014 Mt. […]
Bitcoin has more than doubled in less than a month, leaving analysts and investors stunned and concerned about a possible market bubble. In many ways the token’s rally in recent months is crucially different than the surge seen three years ago, as buyers now range from casual day traders to […]
Bitcoin crossed $US35,000 for the first time on the same day Democrats won the runoff elections in Georgia and took control of the Senate. US economists suggest that a Democratic Senate would likely lead to another round of large fiscal stimulus, crimping demand for assets like the dollar. The dollar […]
A tech reporter once lived on Bitcoin for a week straight to test how valuable it is in the real world. She bought a bunch of bitcoin in 2013 for $US136 each on Coinbase, hoping to use it for daily expenses. On the last night of her experiment, she spent […]
Bitcoin shot past $US20,000 for the first time on Wednesday. “Some of the biggest investors in the world have been singing Bitcoin’s praises in recent weeks,” said an author of a bestselling book on cryptocurrencies. “This suggests they already own Bitcoin and are hoping to encourage more people to buy […]
Bitcoin has surged nearly 150% in 2020 and rose above the $US18,000 threshold on Wednesday for the first time in three years. Billionaire investor Chamath Palihapitiya said in 2017 that the coin could reach $US1 million in the next 20 years, while Michael Novogratz sees the coin surging to $US60,000 […]
Bitcoin rose above $US18,000 on Wednesday, to its highest in three years, and its market capitalisation has hit an all-time record of $US336 billion. The price has closed above $US17,000 on only five other days in history, Deutsche Bank analysts said. Frenzy over its price caught the attention of Hollywood […]
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