Bitcoin has rallied so much this year that the traditional money managers are getting more worried about the digital currencies rise. Bank of America's survey just this month of December found that 32% of money managers said bitcoin is the most crowded trade in the business sector - meaning that it's so popular that it could reverse just as quickly as it rallied more than 1,700%+ this year. There are other signs that the Bitcoin mania is getting way ahead of itself. Some market analysts said that this kind of mania could only exist because the whole financial market is in this state of high confidence. This confidence in all these markets is encouraging more people to buy which lays the foundation for why we could have fake cryptocurrency mania that we've seen especially in the last couple months. There were ICO's that were launching and collecting money from unsuspected investors and they were gone right after their coin launching.
Bitcoin is gaining unprecedented popularity penetrating from the huge businesses in the wall street to the minnows who were craving for a dime. Governments and banks alike were shaken with this bitcoin mania and they were devising ways on how to regulate this virtual currency. It spread throughout the continent like gangrene and its market cap rises so fast in a span of just a few years. Bitcoin also is one of the most searched in google surpassing the US President Trump. This is a historic feat of bitcoin and we are part of it.
Im very excited for the coming days on what will be our future as one of the investor & trader of this currency. :)
