Hedge fund predicts $115K Bitcoin price and the fall of ‘speculative’ altcoins
Analysts say Bitcoin and Ether’s growing dominance of the crypto market are signals that the current bull market is drastically different than the last one. New data from Pantera Capital, an investment firm and hedge fund, suggests that Bitcoin’s (BTC) current price action is closely following the stock-to-follow model’s trajectory and the firm’s analysts believe BTC will reach $115,212 by Aug. 1. Bitcoin’s parabolic rally may have placed the price a bit ahead of the model’s projection and this week’s 28% correction sent temporary shivers across the market but sharp corrections and short....
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Kyle Bass, a hedge fund manager has predicted the value of Chinese yuan to fall by 30 percent, which may spell good news for the price of Bitcoin. Kyle Bass, a virtually unknown hedge fund manager who rose to fame after predicting the 2009 economic crisis has spoken again. According to one of the financial resource website, Kyle has predicted the Chinese legal tender, yuan to drop by about 30 percent. How accurate is his prediction? That is something only time can tell. If for some reason Kyle Bass’ predictions did indeed come true, then the free-falling yuan may spell some good news for....
In July, a hedge fund in Jersey issued a press release announcing that it had become the first regulated fund to deal in bitcoin. The Jersey fund, called Global Advisors Bitcoin Investment Fund (GABI), later said it was seeking $200m in assets under management. In subsequent months, mentions of GABI have been regularly prefaced by its status as the first regulated bitcoin hedge fund by everyone from the BBC to Newsweek. Now another hedge fund is challenging GABI's claim. Crypto Currency Fund, managed by Timothy Enneking, says that it, not GABI, should rightfully be referred to as the....
No longer is bitcoin for the enthusiast, it would seem. With increasing popularity, businesses - and now financial institutions - are looking to get their hands into the pot. Case in point: A San Francisco-based hedge fund is seeking to bring aboard what they call a "Junior Bitcoin Execution Trader", according to a job posting by Glocap that was emailed to a list of subscribers. The hedge fund's (unclear just which one) "seeking a junior trader to assist with bitcoin execution, general fund operations, and reporting." We've seen interest in bitcoin from hedge funds before, but this is the....
Per a document filed with the US Securities and Exchange Commission (SEC), hedge fund Ark Invest filed for the first Ethereum spot Exchange Traded Fund (ETF) in the US. This new filing has directly impacted the ETH price as the ETF narrative gains further influence in the crypto market. Related Reading: JP Morgan Predicts SEC […]
The British IT professional has revealed that his attempt to recover his lost fortune has been sponsored by a multi-billion dollar hedge fund that is willing to cover any and all costs associated with the hunt, including all necessary equipment. Hedge Fund To Back Hunt James Howells, a British IT professional who threw out a […]