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The cryptocurrency bear market of 2018 created its fair share of troubles for the individuals and companies involved in the ecosystem, including the median crypto hedge fund cost almost 50%, as revealed by PwC in a new survey on May 12.
The survey findings suggest that when bitcoin (BTC) fell from its perch of $20,000 to just $3,000 last year, just over 150 cryptocurrency hedge funds managed to survive. Amongst the survivors, the median loss came in at 46%, while quantitative funds, that take bets on price drops in bitcoin and altcoins, managed to achieve overall returns of 8%.
The said Figures point out towards a troublesome time that the still-nascent industry faced last year. Though 2019 has been observing a recovery with bitcoin prices returning to a high in over six months. Polychain Capital, one of the largest crypto hedge funds report...
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