According to a latest survey on fund managers by BofA-ML
The survey said that betting on the rise of Bitcoin is the "most crowded" trade in December. Bitcoin also held a similar status back in September's survey as well.
For this month, more than 1/3 of fund managers who were surveyed selected Bitcoin as the most crowded trade. The first four months of the year saw them USD longs as the most crowded trade - as the euphoria of Trump's presidential campaign continued.
After that, it was mostly a bet on tech stocks as fund managers said that going long on the Nasdaq index as the most crowded trade for 6 out of 12 months of the year.
Bitcoin is having a wild ride today, as it fell from $17,000 levels to below $16,000 - and now it's bounced back to $16,340. On the daily chart, this would mark the 3rd straight day Bitcoin is in decline - and if it closes lower on the day, it would be the first time since September that it posted three straight days of losses.
