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Wednesday, 20 June 11:15 (GMT -05:00)



Foreign exchange market

It’s the Day of Reckoning for Cryptocurrency Funds, Bloomberg Says


Bloomberg experts claim that the day of reckoning for cryptocurrency funds has finally come. Last year, when the world’s first digital currency (Bitcoin) went sky-high in mid-December and reached another all-time high at 20000 USD/BTC, over 150 funds specializing in cryptocurrencies emerged on the Internet. In 2017, theirprofitsreached 1000%.

By now, the BTC exchange rate has dropped by almost 70% below 7000 USD/BTC, which is the lowest level since November 2017. Apparently, this means significant loss of profits for those funds. There is no denying the fact that these days investors will think twice before investing in cryptocurrencies.

 

The inflow of investment capital has slowed down considerably, even in such respected funds as Multicoin Capital, which is confirmed by their founders. Founded in August 2017, when the interest in Bitcoin was peaking, the mentioned fund managed over 50 million dollars in assets.
 
It’s interesting to note that since then, at least 9 cryptocurrency funds have ceased to exist and deleted their Facebook and twitter accounts. One of those funds named Alpha Protocol reasoned their decision by saying that taking into account potential regulatory and market risks, the best option would be to refund those investors who participated in the ICO.

At the same time, other funds have been cutting down on their market activity and reducing their market exposure. For example, back in September 2017, Polychain Capital used to run some 250 million dollars in assets. In January 2018, it rejected the listing in Canada. Famous currency market player and billionaire Mike Novogratz refused to create his own crypto-fund. Instead, he decided to create a bank working with blockchain-based startups.
 
According to Rick Marini from Autonomous Research LLP., up to 10% of hedge funds currently investing in cryptocurrencies will have to close till late 2018. The reason has to do with the difficulties to attract enough external funds required to service institutional investors.

 

 

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Will Bitcoin Dive Below $6000?

Publication date: 19 June 12:42 PM

Today’s Bitcoin Rate Signals Growing Risks in Banking Sector

Yesterday, the BTC exchange rate suddenly started growing, probably as a part of a recovery move against the existing downtrend. According to CoinMarketCap, the current BTC exchange rate is somewhere above 7500 USD/BTC. Over the last 24 hours, the world’s first cryptocurrency has gained some 5%, trying to recover from May’s downtrend (in case you don’t know, the coin has lost 20% since early May before starting to recover yesterday).

Publication date: 31 May 08:33 AM

Bitcoin Goes Down Before Another Rally?

The BTC exchange rate keeps on going down while being driven by a number of factors and circumstances. International experts say that the price of the world’s first and most popular cryptocurrency is currently going down just to gain some momentum later and skyrocket to new highs.

Publication date: 29 May 11:19 AM

Masterforex-V Analysts name Successful ICOs in May 2018

For those of you who don’t know, an Initial Coin Offering (ICO) is all about raising funds. To be more specific, startups sell their underlying crypto tokens in exchange for existing crypto currencies, mostly Bitcoin, Ethereum and other altcoins out there. This resembles an IPO in the stock market where investors buy a newly offered stock.

Publication date: 23 May 12:14 PM

Bitcoin Will Hit $20K, CoinShares Says

Bitcoin is really capable of getting back to the all-time high at $20K per coin. This is what founder of Coinshares Danny Masters thinks on the matter. He is not a rookie in this business. His company has been creating investment products for the cryptocurrency market and conducting blockchain-related research for years. Mr. Masters believes in the future of Bitcoin and altcoins. However, he thinks the market is yet to pass a few development stages. 

Publication date: 20 May 08:38 AM

German Stock Exchange Börse Stuttgart Welcomes Cryptocurrencies

Soon enough, maybe this fall, German stock exchange Börse Stuttgart is going to start working with cryptocurrencies. For that purpose, the exchange is expected to use its branch. Trading cryptocurrencies will be implemented through the Bison app. The expected trading turnover is around 100 billion dollars.

Publication date: 17 May 12:00 PM

Bitcoin Goes Down, Getting Closer to 8000 USD/BTC

Earlier today, the world’s first and most expensive crypto currency was going down while continuing the downtrend seen a day before. According to CoinMarketCap, the BTC exchange rate dropped below 8300USD/BTC, though it recovered a bit later on. Over the last 24 hours, the currency lost more than 5% of its dollar value. 

Publication date: 16 May 11:51 AM

Bitcoin Rallies Despite Criticism from Buffet and Gates

This trading week, Bitcoin is unlikely to conquer another major threshold located at 10000 USD/BTC. The thing is that some Bitcoin investors were cooled down by the statements made by investment guru and billionaire Warren Buffett, founder of Berkshire Hathaway, as well as by Bill Gates, founder of Microsoft and one of the richest people on the planet.

Publication date: 10 May 09:05 AM

Will Bitcoin Rate Exceed $10K This Week?

This week, the BTC exchange rate may well break above 10000 USD/BTC, most of the experts interviewed by PRIME think.

Publication date: 09 May 12:51 PM

Bitcoin Prospects Look Vague Against Altcoins

The situation in the global market of cryptocurrencies has been changing for a while. Bitcoin seems to be gradually losing its status of the world’s biggest and most popular digital currency.

Publication date: 05 May 10:53 AM