Cryptocurrencies
Algo Hedge Funds Join Cast of Suspects Seen Behind Bitcoin Surge
- Researcher says 17 algorithmic funds launched since September
- Crypto market volatility had declined in first quarter
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Add algorithmic hedge funds to the list of suspects behind Tuesday’s sudden surge in Bitcoin that had the true believers in the digital asset world heralding a renaissance in the most-popular cryptocurrency.
Long the bane of traditional discretionary traders in areas such as equities for exaggerating price moves and volatility, these computer-run strategies have been increasing in popularity in what has primarily been seen as retail focused market.