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Is Bitcoin Popularity Down? 

1 Min Read
Jonathan Henault Jun 17, 2021

Remember in early May? A survey from Bank of America found that long bitcoin was the most crowded trade, for 43% of the 200+ fund managers with $625 billion in assets under management. At this time, the price of BTC was $57,699 according to CoinDesk data – on May 7. 

May 7 was one month ago, and one month is definitely a long time in the markets, especially when it comes to cryptocurrencies: on June 7, Bitcoin sits at $36,316 only, rocked hard by a warning from the People’s Bank of China against using crypto for payments last month. 10 days later, on June 17, Bitcoin came back to $38,666 but still looks like it is recovering slowly. 

According to a recent Goldman survey, chief investment officers don’t like Bitcoin so much anymore. 35% of them, interviewed by Goldman strategists, placed the world’s No. 1 cryptocurrency as their least favorite asset class, followed by new initial public offerings with 25%, and rate sensitivities with 20%. At the other end of the line, their favorite assets seem today to be growth, values, and commodities. 

Bitcoin survey

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