Bitbull Capital’s comments on the current crypto market, expects Bitcoin to lead the market in the coming weeks.
Q2 2021 hedge fund letters, conferences and more
A Look At Bitcoin And Ethereum’s Performance In the Current Crypto Market
Bitcoin has been performing strongly since it bounced from the $30,000 support we indicated earlier. Now it sits in a critical range and is eyeing a major breakout above $40,000, bolstered by the proposed crypto amendment in the US infrastructure bill.
Meanwhile, Ethereum’s London upgrade went live yesterday and the second-largest cryptocurrency is looking solid in terms of price action instead of experiencing a sell-the-news drop.
We expect Bitcoin to lead the market in the coming weeks before Ethereum and other altcoins can start pushing for gains in what could become the second phase of this year’s bull run.
However, any news shocks at this time could hamper Bitcoin’s advance, and a rejection from this level will likely see it falling back towards $30,000.
About BitBull Capital
BitBull Capital manages cryptocurrency hedge funds, including BitBull Fund, the first cryptocurrency fund of funds, and BitBull Opportunistic Fund, which directly invests in crypto assets. BitBull Fund manages a strategically selected bundle of 10 of the more than 600 crypto hedge funds for its investors, including gaining access to exclusive, closed funds and $M-minimum funds. As such, BitBull is uniquely positioned to understand the active management strategies and managers in crypto. BitBull Opportunistic is a direct investment vehicle into crypto that leverages this diligence by making specific investments and focusing on specific styles that BitBull believes may return favorably.
