• Skip to primary navigation
  • Skip to main content
  • Skip to primary sidebar
  • Skip to footer
  • About us
  • Write for us
  • Terms and Conditions
  • Privacy Policy
  • Disclaimer
  • Contact
  • All Posts
  • Advertise

TronWeekly

Crypto World News

  • Home
  • Education
    • Best TRON Wallets
    • Beginner’s guide to TRON
  • Opinion
    • Tron Tokens
    • Market Analysis
  • Industry
    • Tron Exchange
    • Project Review
  • Press Release
  • Advertise
  • About us
    • The Team
    • Editorial Policy
    • Write for us
    • Privacy Policy
    • Disclaimer
    • Terms and Conditions
    • Contact
You are here: Home / News / Bitcoin News / Institutional investor supporters may need to wait after research points to crypto fund closure
Crypto

Institutional investor supporters may need to wait after research points to crypto fund closure

December 6, 2019 by Ketaki Dixit

The cryptocurrency community has always rallied behind Bitcoin as they placed hopers in it to breach the mainstream surface. This feeling was also renewed when several applications that used blockchain tech were integrated into the mainstream ecosystem, sparking a widespread revolution. Out of the several requirements that proponents say have to be met by Bitcoin to become huge, no other factor comes close to the concept of institutional investment.

Recent reports showed that this might have taken a hit because almost 70 cryptocurrency-based hedge funds were found to have closed down just this year alone. According to Crypto Fund Research, a resource for data and market intelligence, the number of cryptocurrency funds launched in 2018 was double of what was launched in 2019.

The funds that closed mostly revolved around pensions, wealthy individuals as well as several family offices. Other cryptocurrency market analysts also echoed the result by claiming that the current market is retail-driven, and the possibility for a change did not exist in the foreseeable future.

The total number of cryptocurrency projects launched last year amounted to 284, just seven shy of the record of 291 set in 2017. Cut to 2019, and only 128 projects took flight in 2018. The closures were not just isolated to one country but regions worldwide. Twenty-eight countries were based in the US, while twenty-three companies were from Europe. Asia was slowly rising up in the crypto industry, as evidenced by the 14 funds shutting down there.

Even then, cryptocurrency evangelists like Michael Novogratz only had good things to say about the digital assets industry. He stated that there were a lot of things going on in the background, which would lead to a market boom. In his words:

“It’s not a stampede by any stretch, but people are all doing their work. The next wave will come from the wealth advisers, maybe with endowments and small foundations participating.”

Other supporters like Spencer Bogart also opined that the schedule of success depended on the community, and that slow and study wins the race. Spencer Bogart, the general partner at San Francisco-based Blockchain Capital LLC, had stated that despite the setbacks, Bitcoin had still surpassed expectations over the past ten years.


Disclaimer: The presented information is subjected to market conditions and may include the very own opinion of the author. Please do your ‘very own’ market research before making any investment in cryptocurrencies. Neither the writer nor the publication (TronWeekly.com) holds any responsibility for your financial loss.

Never miss our daily cryptocurrency news, price analysis, tips, and stories. Join us on Telegram | Twitter or subscribe to our weekly Newsletter.

Filed Under: Bitcoin News Tagged With: Bitcoin (BTC), Crypto Adoption

Primary Sidebar

Recent Posts

  • Cardano (ADA) Surge: Sharks & Whales Fuel 65% Price Hike In 2023 February 5, 2023
  • Optimism Overtakes Solana In the Crypto Market: The Battle for Supremacy February 5, 2023
  • Shiba Inu’s BONE Rises By 22% Along With New Listing February 5, 2023
  • Whale Alert: Mysterious Bitcoin Transfer Swells Wallet By $313M February 5, 2023
  • Here’s how Ripple CTO Congratulated Elon Musk Over His Victory February 4, 2023

Footer

News

  • Altcoin News
  • Bitcoin News
  • Blockchain
  • Tron News
  • World

Digest

  • Meet the Founder
  • Price Winning Article
  • DeFi
  • Cyber Security
  • Crypto Scam

Industry

  • Project Review
  • Technology
  • Fintech
  • Tron Exchange
  • New in Town

Tron Universe

  • Event and Tron Parties
  • New in Town
  • Tron Tokens

Follow Us

Subscribe US

Copyright © 2023 · Tron Weekly. All Rights Reserved. NOTE: Tron Weekly is an independent crypto news site that adheres to the strict journalism policy anchored on transparency, trust, and objectivity, we have no affiliation with the TRON Foundation, its founder Justin Sun or any other cryptocurrency firm.