[2017-09-12] Bitcoin is the 'most crowded' investment in the world right now

[Karartma1]

CNBC

In a year that has seen digital currency prices go higher not by percentages but multiples, investors are starting to worry that things have gone a bit too far.
Bitcoin is now considered the "most crowded trade," as measured by sentiment in the monthly global Bank of America Merrill Lynch Fund Managers survey. That means investors believe there are too many people on one side of the trade and it could be due for a reversal.
Bitcoin's price has surged about 330 percent this year, the beneficiary of a jump in interest for the cryptocurrency and a growing field of competitors, as well as a flight to alternative assets and, some fear, a speculative bubble.

More @ https://www.cnbc.com/2017/09/12/bitcoin-is-the-most-crowded-investment-in-the-world-right-now.html

[1715182602]

1715182602

[1715182602]

1715182602

[Coin-Keeper]

as measured by sentiment in the monthly global Bank of America Merrill Lynch Fund Managers survey.

Most of these guys don't even understand BTC at all.  In fact they would benefit if BTC would crash or just go away.

[cr1776]

To me this seems quite unlikely given that there is no approved ETF or other vehicle for most managers to use. Managers aren't going to hold coins with private keys for their clients.  It is doubtful they'd be buying GBTC given the premium over NAV.  LedgerX isn't active yet, so they can't be using options etc.

While the sentiment may be there, the logic behind this being a crowded trade from a Wall Street perspective seems unlikely as of now. If there were an ETF or options available in a SEC etc approved vehicle, I might think it was more fire than smoke. But it seems unlikely.