Cryptocurrency hedge Fund Adaptive Capital is planning to close after the incident 12 – March 13 the collapse of the market, according to The Block.
“Adaptive has decided to cease operations and return the remaining funds to the participants of the Fund. We are convinced that the risks of working in such an unstable environment exceed the potential benefits” – said in a addressed to the investor letter.
The company lamented the “inadequacy of the infrastructure,” which is problematic to properly respond to the motion cycle.
Short and to the point Telegram
In particular, during the fall of bitcoin prices below $4000 platform BitMEX faced with serious disruptions for about 45 minutes, during which no trade orders were processed users. Representatives of popular cryptodermatinae exchange explained these problems in distributed attacks such as “denial of service” (DDoS).
Familiar with the situation sources claim that during the collapse of Adaptive lost more than 50% of the capital. This was a serious blow both for investors and for the Fund itself, which from October 3, 2018 may 3, 2019 showed a yield of 552,77%.
Cryptocurrency “took a breath” and went up again
In 2018, the company gave only one bullish forecast for the bitcoins. It happened on 7 December, that is, at an absolute minimum since the rise in 2017.
Its ability to give accurate predictions of the Adaptive linked with self-developed indicators linked to activity in the largest cryptocurrency blockchains.
A Fund managed known cryptosuite analysts – ex-employee of Glencore and Goldman Sachs Murad Makhmudov and Creator of a number of onchan indicators Willie Woo.
Earlier cryptocurrency market analyst Peter Brandt said that the price of bitcoin will drop to $5 500 by July 2020. That is, in his opinion, even the halving of the reward to the miners will not help the first cryptocurrency to reach new heights, at least in the near future.