Fun

News Feed - 2023-08-05 02:08:27

Brian Quarmby3 hours agoBTC hodlers outperformed crypto funds by 69% in H1: 21e6 CapitalAccording to 21e6 Capital AG, crypto funds generally outperformed the price gains of BTC in previous bull runs, but they ultimately suffered this year from having too much cash on hand and playing it safe.1957 Total views55 Total sharesListen to article 0:00NewsJoin us on social networksThe classic buy and hold, or hodl, approach to Bitcoin (BTC) outperformed most crypto funds by 68.8% in the first half (H1) of 2023.


According to data from Switzerland-based investment adviser 21e6 Capital AG, on average, crypto funds generated returns of 15.2% in the first half of 2023, but BTC saw gains of around 84%.Crypto funds on average generated 15.2% return in the first half of 2023 lol pic.twitter.com/vb8pwYfiX9— Alex Krüger (@krugermacro) August 5, 2023


In the report, 21e6 Capital AG’s head of marketing, Maximilian Bruckner, outlined that crypto funds have been “frequently able to significantly outperform Bitcoin in previous bull runs.”


Bruckner attributed much of the underwhelming performance of crypto funds in 2023 to the challenging market conditions and the significant amount of cash they had on hand in late 2022.


Following the implosion of FTX and other crypto projects in 2022, the report suggested that many crypto funds opted to take risk off the table and develop cash buffers, therefore missing out on a significant BTC price rally in H1 of 2023.“Funds with large cash positions will underperform Bitcoin in a bull market, unless the funds’ assets perform significantly better than Bitcoin.”


“Due to the general sentiment left behind by the end of 2022, many funds had larger-than-normal cash positions. Furthermore, most major altcoins also underperformed Bitcoin – a tough environment for funds,” the report adds.Directional fund strategy comparison H1 2023. Source: 21e6 Capital AG


At the time of writing, BTC is priced at roughly $29,000, and it continues to struggle to hold above the $30,000 level, which has only been briefly surpassed on a couple of occasions in 2023.


Related:Price analysis 8/4: BTC, ETH, BNB, XRP, DOGE, ADA, SOL, MATIC, LTC, DOT


Despite this, current prices mark a 75% price gain for the asset since Jan. 1, as per CoinGecko data. “All crypto fund strategies achieved positive results this year. But relative to Bitcoin, they underperformed, especially those with significant exposure to altcoins, to futures, or those strongly dependent on momentum signals.”


“Going forward, we are keeping a close eye on which exchanges will establish themselves as leading futures providers. Furthermore, the level of the funding rates in crypto futures markets and the ability of quantitative funds to capture trends will be areas of focus when we observe the markets,” the report adds.


Ultimately the report highlighted that investor sentiment has slightly improved over H1 2023, suggesting that some funds may soon start piling in more cash into the crypto sector.


However, it did note that current data relating to inflows and outflows indicate that a “full recovery of sentiment” has not yet taken place.Non-direction crypto fund strategy comparison H1 2023. Source: 21e6 Capital AG


Magazine:‘Elegant and ass-backward’: Jameson Lopp’s first impression of Bitcoin# Bitcoin# Bitcoin Price# HodlAdd reactionAdd reactionRelated NewsHow to actually spend your Bitcoin, ExplainedCrypto trader weighs in on possible Bitcoin extinction scenariosHow will Bitcoin halving affect BTC price, and is DeFi dead?‘Is this a Bitcoin ad?’ Joe Biden unknowingly touts BTC in coffee mug videoBitcoin miners need BTC price over $98K by the halving — AnalysisBTC price upside ‘yet to come’ at $29K after Bitcoin RSI reset — Trader

News Feed

Bitcoin ETFs Crucial To Sustain Current Buying Pressure – Details
Este artículo también está disponible en español. The price of Bitcoin recorded significant leaps in the past month rising by 14.74% according to data from CoinMarketCap.
Jesse Coghlan7 hours agoStars Arena recovers 90% of stolen funds after offering $257K bountyThe exploiter of the Web3 social media platform agreed to keep a 10% bounty in exchange for returning the remainder of the stole
CoinDCX introduces protection fund to secure Indian crypto users
Josh O"Sullivan30 minutes agoCoinDCX introduces protection fund to secure Indian crypto usersCoinDCX"s Crypto Investors Protection Fund will enhance user security by allocating 2% of brokerage income annually to safeguar
Sotheby’s Cancels Cryptopunks NFT Auction After Consignor ‘Decided to Hodl’ Collectibles
Sotheby’s Cancels Cryptopunks NFT Auction After Consignor "Decided to Hodl" Collectibles On February 8, the multinational luxury auction company Sotheby’s announced the fi
Indian Government ‘Constantly Monitoring’ Crypto Sector, Says Finance Minister
Indian Government "Constantly Monitoring" Crypto Sector, Says Finance Minister India’s finance minister, Nirmala Sitharaman, has reportedly revealed that the government is &
Derek Andersen4 hours agoStablecoins will remain ‘indispensable’ in Argentina under new president — Ripio CEORegardless of what changes Javier Milei brings to Argentina’s monetary system, stablecoins are likely t
Ethereum Spot ETFs Outshine Bitcoin Counterparts With Double Market Inflows – Details
Este artículo también está disponible en español. The Ethereum Spot ETFs began February 2025 on a strong positive note, recording net inflows double the size in the Bitco
UK Tax Authority Issues Crypto Guidance for Businesses
The UK’s tax agency has issued cryptocurrency tax guidance for businesses, following up a year-old promise. After clarifying the situation last year for individual taxpayers, Her
These Factors Will Drive XRP Price To $25-$75 In June – Analyst
Reason to trust Strict editorial policy that focuses on accuracy, relevance, and impartiality Created by industry experts and meticulously reviewed The highest standards in reporting and pu
Bitcoin Continues to Record Blocks Above the 3.75 MB Range as Ordinal Inscriptions Near 150,000
Bitcoin Continues to Record Blocks Above the 3.75 MB Range as Ordinal Inscriptions Near 150,000 As Ordinal inscriptions approach the 150,000 mark, blocks larger than 3 MB have beco
Polkadot (DOT) Breakout Looms With $17 Target In Sight – Details
Este artículo también está disponible en español. The Polkadot (DOT) market endured a rather turbulent trading week marked by significant losses. According to data from C
Helen Partz12 hours agoCoinbase shares up 50% since SEC lawsuitSenior Coinbase executives, including CEO Brian Armstrong, have been selling their shares amid the stock’s growth over the past month.14217 Total views2 To