Receive all Cointelegraph news immediately in Telegram.
Hedge fund participation has coincided with a substantial increase in Bitcoin price.
The number of hedge funds with investments in cryptocurrencies has jumped massively in recent months. Reports of as many as 70 new hedge funds with cryptocurrency positions has led to an investor rush.
This number has continued to grow, increasing the availability for institutional-level investment in Bitcoin and other cryptocurrencies. A recent report by Quartz.com indicates that this trend is continuing, as investors seek better returns from hedge funds, as the recent returns from these funds have been lower than the indexed S&P 500.
The increase in hedge fund participation has coincided with a substantial increase in Bitcoin price, edging close to $5,000 in recent trading. This jump, predicted by many industry insiders, has been led by increasing mainstream participation in Bitcoin and other cryptocurrencies. The article made it clear that the increasing investor participation will fuel greater price increase, stating:
“It’s this wall of money that’s about to hit the markets,” says Kelly of BKCM. “That makes me think we are in the early innings of this rally.”
The move from growth to acceptance to greater growth (termed a ‘Satoshi cycle’) has led many to see Bitcoin driving to new heights in the coming year.
Follow us on Facebook
For updates and exclusive offers, enter your e-mail below.
Thank you for contacting us! We will reply to you as soon as possible.
Thank you for your interest in our franchise program.
We are considering your request and will contact you in due course. If you have any further queries, please contact: