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2023's opening months unveiled a surprising tale in the cryptocurrency realm. Bitcoin, with its basic 'hold on for dear life' strategy, saw a return rate spiking to approximately 84%. On the other hand, the average crypto fund hovered around a modest 15% return. This information, brought to light by the Swiss financial advisory powerhouse, 21e6 Capital AG, illustrates a stark 68.8% performance difference in Bitcoin's favor.
Maximilian Bruckner, the marketing maestro of 21e6 Capital AG, sheds light on the past, noting how crypto funds often raced ahead of Bitcoin during bullish times. But 2023 posed challenges. The shadow of 2022 loomed large, a year marked by the dramatic downfall of crypto biggies like FTX and its peers. This downturn led numerous funds to play safe, building a cash safety net and inadvertently sidelining them during Bitcoin's price surge in 2023's initial months.
Bitcoin, currently hovering around $29,000, periodically teeters around the $30,000 mark, a threshold briefly touched a few times this year. Yet, it's essential to highlight that, since the year's beginning, Bitcoin has enjoyed a 75% growth in value, as corroborated by CoinGecko's databases.
Interestingly, every cryptocurrency fund strategy recorded positive outcomes in 2023. However, in a comparative stance against Bitcoin, there's a marked underperformance, particularly for those heavily invested in alternative coins, futures, or reliant on momentum signals.
21e6 Capital AG's report casts an anticipatory eye on the evolving crypto landscape. Their focus is keenly set on identifying potential frontrunners in the futures exchange arena, observing funding rate trends in the crypto futures markets, and monitoring the aptitude of quantitative funds to recognize market patterns.
While 2023 has seen a gentle upward curve in investor confidence, with some funds mulling over increased crypto investment, the consensus is clear: the sentiment hasn't fully healed.
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