Crypto hedge funds generated an average return of 44% in 2023 through Dec. 20, recovering from a 52% loss in 2022, and many expect 2024 to return to prosperity.
Crypto Hedge Fund Resurgence
Pantera Capital, led by industry veteran Dan Morehead There has been a significant recovery, with the company’s Liquid-token fund increasing nearly 80% by mid-December. And this comes after falling more than 80% in 2022. Similarly, Chainview Capital, headed by 31-year-old Dan Slavin, has doubled in performance after falling 18% last year.
Stoka Global LP, which specializes in altcoins, also achieved an impressive 268% gain by November 30, according to founder Naveen Choudary, a former technology investment banker at Goldman Sachs Group Inc.
However, despite the recovery But its average performance still lags behind Bitcoin’s impressive 2023 gain of around 120 percent and lags behind passive crypto funds, which on average returned around 265 percent last year.
Fund managers remain optimistic about 2024.
Greg Moritz, co-founder and COO of Alt-Tab Capital, predicts a positive trajectory for the crypto market, driven by a confluence of macroeconomic and industry-specific factors. These include stabilizing inflation, changes to the Federal Reserve from raising interest rates, and the upcoming Bitcoin halving. This is expected to reduce the supply of cryptocurrencies.
Dan Slavin, founder of Chainview Capital, is optimistic aboutrecoveryIn the digital currency market This is consistent with the sentiment that emerged three years ago when Bitcoin surged to record highs. Meanwhile, leading tokens continue their upward trend. Potential investors will become more involved with fund managers. And hedging strategies are still worthwhile.
refer : cryptopotato.com
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