Algorithmic trading is basically a method that uses automated software in order to detect trends and determine when trades should be made. As per Bloomberg’s report on Wednesday, April 3, the said method has been on the rise in the last few months. Since September, the industry has observed 17 new algorithm or quantitative funds and an amount that purportedly comprises 40 percent of crypto hedge funds started during this period.
While in 2018 crypto bear market, the crypto funds, in general, lost around 72 percent, these algo funds have reported gains between 3 percent and 10 percent per month during the so-called crypto winter. Bloomberg adds that Bitcoin’s (BTC) unexpected 20 percent surge price on Tuesday, April 2, shortly after the Asian markets opened, could be attributed to the $100 million trade made on three major exchanges.
Read more:Credit Karma Tax Reports That Short-Term Crypto Losses Have Surged In 1st Month of 2019
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