Digital Currency Value of Bitcoin Rises Down

The soaring value of bitcoin digital currencies soaring this year makes it the most "rowdy" investment. This is based on a survey conducted by Bank of America Merrill Lynch.

The survey measures sentiments that can easily make investors profitable. The survey also found that 32 percent of respondents think bitcoin is the most crowded and rowdy trade in the financial world.

That number rose from 26 percent in the same survey conducted in September 2017. At that time, the value of bitcoin jumped about 375 percent to 4,600 US dollars or equivalent around Rp 62.1 million.

The value of bitcoin itself has jumped almost 4-fold since September 2017 to reach above 19,000 US dollars or about Rp 256.5 million last week. One of the factors driving the reinforcement is the launch of the bitcoin market by CME, the world's largest bitcoin trading center, and Cboe.
Survey conducted by Bank of America Merrill Lynch was held on 8-14 December 2017 ago. Respondents involved are 172 global investment managers with total managed funds reaching 480 billion US dollars.

In addition to bitcoin, the most heavily-regarded investment is the stocks of US and Chinese tech giants. This is based on 29 percent of respondents.

Throughout the year, shares of FAANG or Facebook, Amazon.com, Apple, Netflix, and Google's parent company, Alphabet, have gained between 37 and 60 percent this year. Meanwhile, the S & P 500's stock index only rose 20 percent.

China's e-commerce giant Alibaba has gained 97 percent of its shares. Baidu's search engine services firm shares rose nearly 47 percent and Tencent's Internet giant was more than 110 percent.

The term FAANG refers to the shares of the issuer, which is very much strengthened and concentration of profit is concentrated. In China, there is also the term BAT, namely Baidu, Alibaba, and Tencent.

Problems with digital currencies have occurred since December. US and US FBI stock authorities began cracking down on alleged fraud raising funds by a number of virtual currency companies and market players. The regulator also notices and warns investors about potential fraud.

University of Cambridge's virtual currency researcher, Garrick Hileman, said that a number of major banks are also attracting virtual currency that is not published by the government. A number of banks prohibit the purchase of virtual currency using credit cards such as Morgan Chase, Bank of America, and Citigroup.

A spate of bad news continues for the virtual currency. With a number of banks announcing a ban on purchasing virtual currency by credit card.

In Asia, virtual currency is so popular. China and South Korea are actively trading virtual currencies, and are now down.

The virtual currency began to fluctuate in early 2018 as fears of restrictions on virutal currencies, and rumors about a potential ban in India. Bitcoin is one of the best known and highly volatile currencies in 2017. The bitcoin price was almost US $ 20,000 before plunging in December.

The bitcoin value drops to its lowest level in two months. The value of the virtual currency is touching the position of US $ 6,147.30, and the lowest since mid-November. Even now it is under the level of US $ 6,000 is in the range of US $ 5,995.