Crypto Hedge Funds Have Best Month Since 2013 With Huge April Gains

Avi Rosten
  • A weighted index of seven funds showed gains of over 83% for April
  • The gains were the best month for crypto hedge funds since 2013

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Cryptocurrency hedge funds have experienced huge growth last month - making record gains for the month of April.

According to data from

Eurekahedge, a research and data firm that specialises in hedge funds, their cryptocurrency Hedge Fund Index gained a massive 83.86% in April - marking its first positive month of 2018.

 

 

eureka hedge fund index.png

 

A weighted index of seven constituent funds, the performance for April was in fact the best monthly return recorded since November 2013. The results most likely stem from impressive altcoin gains - particularly for Ether - whose market value rose 77% in April according to

CryptoCompare. Bitcoin cash also recorded substantial gains for the month - rising by 109% during the same period.

 

Positive atmosphere

Sections of the financial world seem to be making positive moves into the cryptocurrency space - with established institutions such as

Goldman Sachs recently confirming that they are opening a trading desk for bitcoin futures and hope soon to start trading bitcoins themselves.

 

Similar sentiments are to be found in the crypto-finance world, with Hedge Fund Pantera Capital last month announcing

their bullishness about the market. CEO Dan Morehead labelled Bitcoin a “screaming buy” - explaining that:

 

 

"Bitcoin has come below its 200-day moving average and that is important because the currency has been going up at a 170% per annum for six years... if it ever goes down below its average, that means it's really come off... it's come off 65% since its highs and if you put a 100 bucks in each of the four times it's touched its 200-day moving average, you'd have a 285% return."

Dan Morehead

 

Featured Image Credit: "Hedge Fund" by "Nick Youngson" via Alpha Stock Images; licensed under "CC BY 3.0"