Cryptocurrencies, hedge funds up 80% in April. Excellent results from the cryptographic investment funds last month.
Although the Bitcoin (BTC) has slightly recovered its price over the past weekend, fluctuating around $ 8,300, the past few weeks have been quite significant for the cryptocurrency, and the recent step back has not been enough to satisfy that expectation BTC would have reached the threshold of 10.000 dollars once again in its history.
In confirmation of the discreet euphoria underlying the market of cryptocurrency, a recent MarketWatch report has just said that cryptocurrency-based hedge funds gained more than 80% in April, resulting in the single biggest gain for the world of cryptocurrency hedge funds in more than four years.
A monthly performance of 83,86%
Secondo Eurekahedge, a hedge fund research firm, the index Crypto-Currency Hedge Fund it would have recorded 83,86% gains during April, capable of reversing a three-month time period of losses. In January the drop was in fact 6,04%, the month of February closed with a drop of 13,21% while the month of March was the worst of all, with losses of 34,11%.
In addition, the April performance of the index, which follows the growing interest of hedge funds on cryptocurrencies and investments in various types of digital currency, was the strongest monthly period since November 2013. The largest annual gains were instead recorded in the during 2017, when the index recorded growth of over 1.700% in 12 months.
Bitcoin alternatives stimulate growth
Bitcoin has shown signs of recovery for several weeks, but actually others as well cryptocurrency they caused the sudden turnaround in the Eurekahedge index. For example, Ethereum, which is the second largest digital currency by market capitalization, rose nearly 70% in April. Bitcoin Cash, on the other hand, has more than doubled in value over the same period.
Of course, the world of hedge funds dedicated to cryptocurrencies is relatively small and could therefore be a marginal share of all financial interest. However, it is clear that if digital currencies continue to capture similar attention in the near future, the numbers will change.