Tuesday, July 27, 2021

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    Bitcoin investors in Argentina have already lost about $100 million

    The operation with the highest volume today is that of “long technological actions“, that is, those on which investors bet most enthusiastically, followed by the “Environmental, Social, and Governance (ESG)”.

    This July Bank of America Global Fund Managers Report Shows That The “Long Bitcoin” it fell to third place among the types of trades with the highest volume.

    The “Global Fund Managers Survey” is the monthly report of this entity, which analyzes the views of approximately 200 enterprise fund managers, mutual and worldwide coverage.

    The busiest trade now is that of “long technological actions“, which represents investments with hope of rising technological stocks such as Amazon, Mercado Libre and Tesla, among others.

    In second place is “Long ESG” and finally in third place is Bitcoin.

    Commodities fell to fourth place since they were the busiest trades last month.

    the fund managers respondents this month were much less optimistic about growth, earnings and inflation compared to the beginning of the year, as shown by the survey conducted.

    74% of fund managers still expect growth and inflation to be “above trend”.

    Bitcoin was the operation of increased volume in the month of May, when “long tech stocks” came second, followed by long ESGs.

    In June, long commodities overtaken Bitcoin as the busiest trade, leaving cryptocurrency trading in second place.

    Long technology stocks ranked third and LONG ESGs ranked fourth at the time.

    The most recent news of the drop in this Bitcoin ranking alerts Argentine investors, as the country is ranked 21 of countries with the highest profits in BTC at the end of 2020, with a return equivalent to US$200 million, which means that a huge amount of Argentines have their money put in the number one cryptocurrency.

    Meanwhile, Bank of America established a cryptocurrency research team. “We are in a unique position to provide thought leadership due to our strong industry research analysis, our market-leading global payments platform and our expertise in blockchain,” the bank said last week.

    In addition, it recently published a report indicating that the digital currency “could boost economic growth” in developing countries, such as Argentina

    Sergio Turi, Of Investments in the World, remarked that “Many have changed their bitcoin outlook after the correction that made its price in recent months hovering around 50 percent. Many Argentine investors have lost hundreds of thousands or even millions of pesos due to this correction,” to which he added “for BTC to recover its long-term upward trend, it needs investors to take an interest in it again, as long as that does not happen, we will find ourselves in an alarming situation.”

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