Why Asia Refuses to Get Into Cryptocurrency
Cryptocurrency has become one of the hottest investments in the past several years, with prices jumping in the hundreds of percents. Regulators in the Asia Pacific have become increasingly uneasy with all these gains, and have begun to put regulation on cryptocurrencies such as bitcoin. The latest warning came from the Governor of the Bank of Japan, Haruhiko Kuroda, who stated that the surge in bitcoin price is abnormal.
Why Cryptocurrency Prices Plunged Last Week
The world of cryptocurrency has been incredibly fruitful for those who got in early. With investments reaching into the gains of hundreds or even thousands of percents, crashes are rare. Yesterday, December 21st, many of the world’s most popular cryptocurrencies crashed with prices dropping to unexpected lows. Bitcoin, the world’s number one cryptocurrency by market capitalization dropped to as low as $12,500, from almost $20,000 only a week prior.
How One Crypto HedgeFund Has Produced Massive Returns
The staggering returns of over 13,000% for bitcoin represent a large fraction of the market increase in the cryptocurrency world, but are nothing when compared to the gains received from Pantera Capital. The firm known as Pantera Capital has been able to gain as much as 24,000% for investors in the Bitcoin Fund they run since the launch of the fund in 2013. Nathanial Popper, a reporter stated that “a significant portion of the gains have come this year, thanks to the skyrocketing price of an individual bitcoin, which hit $19,000 on Monday.”