Official News 13.10.2017 Number of Cryptocurrency Investment Funds Growing

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Interest towards cryptocurrencies is constantly rising — not only on the part of investors, but also on the part of investment funds. A British analytical firm Autonomous NEXT that specializes in financial technologies has counted the number of cryptocurrency-oriented hedge funds. Today, there's as many as 55 funds while just two years ago there were very few of them.

The soaring number of investment funds that advise their customers to invest in cryptocurrencies is a direct proof of how digital currencies develop and become stronger on the financial market.

Growing exchange rate of cryptocurrencies fueling interest​

The key reason for the explosive growth of hedge funds is the rapid upsurge in the price of many digital currencies. For instance, the price of Bitcoin in September rose by almost 700 % compared with a year earlier, while the price of Ethereum in the same period increased by 3,300 %. It's impressive!

The ICO market (where funds are invested in the creation of new cryptocurrencies in exchange for the initial coins) has also strengthened — since the beginning of the year various projects have collected over $1.8 bln. Investment companies don't overlook these facts — they do understand the great prospects of investing into the cryptocurrency market and don't miss good opportunities to make a profit.

Analysts forecast that the number of new cryptocurrency-related hedge funds will rise further until the end of the year. Well, there's a good chance it's going to happen since the price of cryptocurrencies continues to grow. We're going to find out soon enough whether these forecasts are going to be accurate.

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According to analysts, the number of hedge funds advising customers to invest in cryptocurrencies has surged this year. It's not surprising since digital currencies continue to gain ground on the financial market with each passing day. For details, go here.