120 hedge funds Investing on Bitcoin and Small Cap Cryptos like PPT and Veri

120 hedge funds Investing on Bitcoin and Small Cap Cryptos like PPT and Veri



The number of crypto hedge funds more than doubled in the four months to Feb. 15, data from fintech research house Autonomous NEXT showed on Thursday. Next Bitcoin Bull Market Starts in 3 weeks.

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The surge in funds comes at a volatile time for the cryptocurrencies they trade in. After hitting a record high close to $20,000 in December, bitcoin BTC=BTSP lost 70 percent of its value to slip below $6,000 in January, posting its worst monthly performance in three years.

Bitcoin has since recovered some of those falls, but at just below $10,000 is still only worth around half what it was a month ago.