Traders Bet that Bitcoin’s Resurgence Will be Short Lived

According to a recent report from the Commodity Futures Trading Commission hedge funds and other money managers held about 14 percent more bearish short positions than they did bullish long positions last week; this comes at a time when bitcoin has seen a resurgence getting above $12,000 as of this morning; other large traders were even more bullish on the digital currency as they do not believe this surge will last very long; small investors, defined as those with fewer than 25 bitcoin contracts, on the other hand were the most bullish; “Traditional market participants may be more skeptical of bitcoin than millennial day traders,” said George Michalopoulos, a portfolio manager with Chicago fund manager Typhon Capital Management LLC, to the Wall Street Journal. Source.

Todd is the Chief Product Officer of LendIt Fintech.

He is the host of PitchIt: the fintech startups podcast, a weekly interview show featuring emerging fintech founders and leading venture capitalists.

He is responsible for leading the content team which covers fintech through daily & weekly email newsletters, editorial, virtual events, and in-person conferences.

He has been covering fintech, banking, and venture capital for more than 15 years, including speaking regularly at industry events.

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