Traders and investors in Bitcoin and other top digital assets were handed an early Christmas gift after Bitcoin took the reins and led other assets in bullish momentum. This momentum saw Bitcoin hit its all-time high record, three years after the record was last set. Despite most investors panicking over the type of correction that would follow the price surge, Bitcoin and other vital assets have been able to sustain their momentum with the leading digital asset currently trading above $23,000 in the past few hours.
For the first time in history, all the major altcoins you can ever think about are making progress no matter how little as a coinmarketcap survey showed that you would have to check lower cap altcoins before you see an asset that has not done well in the last few days.
Bitcoin growing in leaps and bounds
The recent surge has been able to pull the global digital asset market cap above $666 billion with its percentage over gold now 9%. With Bitcoin moving up in terms of its price, the United States Federal Reserve are not unyielding in their plans to pump in cash into the economy, a nice that will see the dollar decline. While this has generated a lot of debates across the financial market, major high-value investors and businesses are now turning to digital assets, especially Bitcoin as a hedge for their cash.
With the market conversant with institutional investors and the role they are playing in the crypto market, a new breed of investors known as hedge fund sharks are now making their way into the Bitcoin market. Hedge fund sharks are said to be high-value investors that twist the crypto market for their good, generally to make a profit without considering the natural HODLers. While most day traders are trying to gather enough profits by making guesses of the price of the digital asset during the day, the hedge fund sharks do their thing in another spectacular way.
Hedge fund sharks are allowed to choose any market to invest in
Hedge fund sharks are different in such a way that they are in charge of money belonging to other people, who are usually wealthy. To be able to use the services of a hedge fund, you must own at least $1 million in investment earn nothing less than $300,000 every year. Notably, these figures vary according to the location of the hedge fund managers. One special thing about hedge fund managers is the fact that they are allowed to choose the kind of market they invest in.
For example, if a hedge fund manager decides to invest in a market that his employers are not conversant with, thy have little or no power to stop him. People who dabble into this kind of investment are people who believe that the higher the risk, the higher the reward.
According to recent events, hedge funds lost a total of $450 billion in the market collapse that happened in 2008. While Bitcoin sharks try to accumulate a very massive amount of Bitcoin before they sell, hedge fund sharks use the volatility in the market to their advantage.
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