Today is a special day for the cryptocurrency community, as the price of Bitcoin reached a new record high of $20,600 at the time of writing this article.

The rise of Bitcoin was accompanied by the rise of Ethereum, which reached the level of 620 dollars, affecting the total market value of the crypto market, reaching 596 billion dollars.

As the crypto market continues to blaze after Bitcoin hit a new historic high, a survey of fund managers revealed that Bitcoin has become one of their favorite investment options.

According to a survey conducted by Bank of America, this survey included the question:

What do you think of the most prosperous trade currently?

Read:A noticeable rise in the price of the Juventus digital currency (JUV) after the latest news of Ronaldo

replied 217 mutual fund managers say the most prosperous trade are technical stocks, short ETFs in US dollars and bitcoin.

BofA fund manager survey of the busiest trades

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– 𝕮𝖍𝖎 (chigrl) December 15, 2020

Technical stocks are meant for the stocks of companies such as Facebook, Apple, Amazon, Netflix and Google, while the short investment funds in the US are meant the funds that expect the value of the dollar to decline.

The US currency has fallen this year, losing 10% against a basket of currencies since March, while technology stocks have become the new safe haven for investors trying to ride out market losses for 2020.

Which puts Bitcoin in a good position.

After insurance company Massachusetts Mutual bought $100 million worth of bitcoin, some believe this opens the door for pension funds and other insurance companies to jump on the bitcoin bandwagon.

The last time we saw such praise from Wall Street was in 2017, and we all know what happened shortly thereafter.

Read:Will President Trump pardon the founder of the “Silk Road” store famous for accepting Bitcoin payments?

“Wall Street” is betting that the stimulus deal will pass before the end of the year:

Traders in the US are optimistic that lawmakers will pass a stimulus package after a new round of talks between Democrats and Republicans.

Economists at Goldman Sachs said Tuesday:

Prospects for a financial deal before the end of the year are improving.

At this point, we think it’s slightly more likely this week Congress will pass a package similar to the last proposal’s estimated $748 billion, which would be close to our permanent assumption of a $700 billion package (3.3% of GDP).

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