Bitcoin is the most crowded' Investment in the world, according to a widely followed investor Survey

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Bitcoin tops the list of "most crowded trades" — a measure of sentiment on which a popular investment could quickly reverse its gains — in Bank of America Merrill Lynch's December global fund manager survey.
The survey finds 32 percent of respondents named bitcoin as the most crowded trade, up from 26 percent in September when the digital currency first led the list.
Another crowded trade is betting on the stocks of U.S. and Chinese technology giants, 29 percent of respondents said.

The soaring digital currency topped the list of "most crowded trades" — a measure of sentiment on which a popular investment could quickly reverse its gains — in Bank of America Merrill Lynch's December global fund manager survey released Tuesday.

The survey found that 32 percent of respondents named bitcoin as the most crowded trade in the financial world, up from 26 percent in September when the digital currency first led the list. At the time, bitcoin had surged about 375 percent for the year to $4,600.

But clearly that was not the top, despite a rocky September for bitcoin in which the digital currency briefly plunged more than $2,000 as China cracked down on crypto currencies and J.P. Morgan Chase CEO Jamie Dimon called bitcoin a "fraud" that "won't end well."