{"id":56152,"date":"2021-04-19T09:01:33","date_gmt":"2021-04-19T09:01:33","guid":{"rendered":"https:\/\/www.cryptocabaret.com\/?p=56152"},"modified":"2021-04-19T09:01:33","modified_gmt":"2021-04-19T09:01:33","slug":"bank-of-america-survey-74-of-fund-managers-see-bitcoin-as-a-bubble","status":"publish","type":"post","link":"https:\/\/www.cryptocabaret.com\/?p=56152","title":{"rendered":"Bank of America Survey: 74% of Fund Managers See Bitcoin as a Bubble"},"content":{"rendered":"

\"Bank<\/p>\n

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.<\/strong><\/p>\n

Bank of America Survey Shows Most Fund Managers Think Bitcoin Is a Bubble<\/h2>\n

The Bank of America Fund Manager Survey for April shows that the majority of fund managers see bitcoin as a bubble. The survey asks 200 fund managers with $533 billion in assets under management.<\/p>\n

Answering the question of whether bitcoin is a bubble, 74% of investors replied \u201cyes.\u201d Just 16% said \u201cno\u201d to the question and 10% said they either did not know or did not want to answer the question. In comparison, only 7% of investors think that the U.S. equity market is in a bubble. Most respondents think that the equity market is in \u201ca late-stage bull market.\u201d<\/p>\n

\"\"
Chart showing 74% of investors who responded to the survey think that bitcoin is a bubble. Source: Bank of America Global Research, Yahoo Finance<\/figcaption><\/figure>\n

The fund managers who responded to the survey also rated bitcoin second on the list of the most crowded trades, with 27% said BTC<\/a> was the most crowded trade. Technology stocks rank first with just over three in 10 respondents citing tech as the most crowded trade.<\/p>\n

Nonetheless, about 10% of fund managers still believe that bitcoin will outperform in 2021.<\/p>\n

<\/ins> <\/ins> <\/p>\n

Bank of America has been saying that bitcoin is in a bubble for months. Earlier this year, Michael Hartnett, chief investment strategist at Bank of America Securities, said that bitcoin looks like \u201cthe mother of all bubbles<\/a>.\u201d In March, the bank\u2019s strategist said that the only good reason for holding BTC<\/a> is \u201csheer price appreciation<\/a>.\u201d<\/p>\n

Recently, investment bank JPMorgan also named cryptocurrency as one of the sectors<\/a> it believes is in a bubble. Despite this view, the firm has predicted that the price of bitcoin could reach $130,000<\/a> in the long term.<\/p>\n

What do you think about the Bank of America survey suggesting that bitcoin is a bubble? Let us know in the comments section below.<\/strong><\/em><\/p>\n

Powered by WPeMatico<\/a><\/small><\/p>\n","protected":false},"excerpt":{"rendered":"

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 […]<\/p>\n","protected":false},"author":2,"featured_media":56153,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[309],"tags":[],"class_list":["post-56152","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-cryptocurrency"],"_links":{"self":[{"href":"https:\/\/www.cryptocabaret.com\/index.php?rest_route=\/wp\/v2\/posts\/56152","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.cryptocabaret.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.cryptocabaret.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.cryptocabaret.com\/index.php?rest_route=\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.cryptocabaret.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=56152"}],"version-history":[{"count":0,"href":"https:\/\/www.cryptocabaret.com\/index.php?rest_route=\/wp\/v2\/posts\/56152\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.cryptocabaret.com\/index.php?rest_route=\/wp\/v2\/media\/56153"}],"wp:attachment":[{"href":"https:\/\/www.cryptocabaret.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=56152"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.cryptocabaret.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=56152"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.cryptocabaret.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=56152"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}