{"id":33454,"date":"2020-12-16T10:01:44","date_gmt":"2020-12-16T08:01:44","guid":{"rendered":"https:\/\/forklog.com\/en\/?p=33454"},"modified":"2025-08-28T13:54:03","modified_gmt":"2025-08-28T10:54:03","slug":"bank-of-america-long-bitcoin-and-short-the-dollar-among-top-market-themes","status":"publish","type":"post","link":"https:\/\/u1f987.com\/en\/bank-of-america-long-bitcoin-and-short-the-dollar-among-top-market-themes\/","title":{"rendered":"Bank of America: Long Bitcoin and Short the Dollar Among Top Market Themes"},"content":{"rendered":"<p>A short position in the dollar and a long position in bitcoin became the second and third most popular topics in the Bank of America\/BofA Securities survey, conducted among 217 asset managers overseeing a total of $535 billion.<!--more--><\/p>\n<blockquote class=\\\"twitter-tweet\\\">\n<p dir=\\\"ltr\\\" lang=\\\"en\\\">The most crowded trades according to the Bank of America Global Fund Manager Survey. Tech still leads the market. The Nasdaq Composite is up 39.84% YTD. <a href=\\\"https:\/\/twitter.com\/hashtag\/Bitcoin?src=hash&#038;ref_src=twsrc%5Etfw\\\">#Bitcoin<\/a> is the third most crowded trade after a swell-up in December mostly due to increased institutional uptake in the west <a href=\\\"https:\/\/t.co\/d8uaF4XUtY\\\">pic.twitter.com\/d8uaF4XUtY<\/a><\/p>\n<p>\u2014 Jonathan Dury (@dury_x) <a href=\\\"https:\/\/twitter.com\/dury_x\/status\/1338920622022340609?ref_src=twsrc%5Etfw\\\">December 15, 2020<\/a><\/p>\n<\/blockquote>\n<p><script async src=\\\"https:\/\/platform.twitter.com\/widgets.js\\\" charset=\\\"utf-8\\\"><\/script><\/p>\n<p>The survey was conducted from December 4 to 10. Shortly before, bitcoin hit a new all-time high.<\/p>\n<p>Thirty-three of the 217 participants said the most crowded positioning was long bets in the first cryptocurrency; 37 managers share the view for dollar shorts. About half identified long positions in tech stocks as the most crowded.<\/p>\n<p>In 2021, managers expect gains in emerging-market equities, a continued rise in the S&#038;P 500, and a recovery in oil prices. Fewer than 5% of respondents see bitcoin as the primary driver of growth in the coming year.<\/p>\n<blockquote class=\\\"twitter-tweet\\\">\n<p dir=\\\"ltr\\\" lang=\\\"en\\\">Good news \u2014 less than 5% of global fund managers have heard of Bitcoin. We\u2019re still early<\/p>\n<p>(Bank of America survey Dec 15, 2020) <a href=\\\"https:\/\/t.co\/txNjw7zZtD\\\">pic.twitter.com\/txNjw7zZtD<\/a><\/p>\n<p>\u2014 Mira Christanto (@asiahodl) <a href=\\\"https:\/\/twitter.com\/asiahodl\/status\/1338804231826903040?ref_src=twsrc%5Etfw\\\">December 15, 2020<\/a><\/p>\n<\/blockquote>\n<p><script async src=\\\"https:\/\/platform.twitter.com\/widgets.js\\\" charset=\\\"utf-8\\\"><\/script><\/p>\n<p>Analysts at Bloomberg say that bitcoin&#8217;s price range in 2021 could be <a href=\"https:\/\/u1f987.com\/en\/news\/bloomberg-bitcoin-eyes-50000\">$10 000-$50 000<\/a>. They believe that the current consolidation could last for several months, but the rally will continue thereafter.<\/p>\n<p>Last week, Glassnode analysts pointed to <a href=\"https:\/\/u1f987.com\/en\/news\/glassnode-insanely-bullish-bitcoin-metrics-point-to-targets-above-200000\">six metrics<\/a> that are well below the levels recorded when bitcoin reached its 2017 high. They say this points to the potential for bitcoin to rise with targets above $200,000.<\/p>\n<p>Subscribe to ForkLog news on <a href=\\\"https:\/\/www.facebook.com\/forklog\\\" target=\\\"_blank\\\" rel=\\\"nofollow noopener noreferrer\\\">Facebook<\/a>!<\/p>\n","protected":false},"excerpt":{"rendered":"<p>A short dollar position and a long bitcoin position were the second and third most popular topics in the Bank of America\/BofA Securities survey, conducted among 217 asset managers overseeing a total of $535 billion.<\/p>\n","protected":false},"author":1,"featured_media":33455,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"1","news_style_id":"1","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[2027,480,52],"class_list":["post-33454","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-bank-of-america","tag-bitcoin-price","tag-investments"],"aioseo_notices":[],"amp_enabled":true,"views":"19","promo_type":"1","layout_type":"1","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/33454","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/comments?post=33454"}],"version-history":[{"count":1,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/33454\/revisions"}],"predecessor-version":[{"id":33456,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/33454\/revisions\/33456"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media\/33455"}],"wp:attachment":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media?parent=33454"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/categories?post=33454"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/tags?post=33454"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}