Bitcoin “long” is a very large number of transactions: US Bank of America survey
Bank of America, a major US bank, said in a research report that Bitcoin’s “long trade” is one of the most “crowded trades” in the financial markets. “Crowded” means that the majority of traders are making the same investment. Bank of America surveyed 194 fund managers (total assets under management of $ 592 billion) on their investment in crypto assets. In the January survey, Bitcoin long trading was the most active, and in the February survey, it was second only to “long high-tech stocks.” The report noted that the most popular transactions were related to high-tech stocks in September 2018 and September 2020, the US dollar in February 2015 and January 2017, and soaring prices in the asset class. .. Meanwhile, Bitcoin prices rose significantly in February compared to January.