Cryptocurrency funds fell by 29.2 percent in March against the backdrop of the continuing recession. This was due to closer attention from global regulators. These figures are taken from the new BarclayHedge index.

The Barclay Cryptocurrency Traders index fell 43.1 percent this year, after three consecutive monthly losses, BarclayHedge said on Wednesday.

Cryptocurrency funds show insignificant growth

The Cryptocurrency Traders Index, launched in 2018, represents an equivalent monthly income index of 19 funds that sell bitcoins and other cryptocurrencies.

In December 2017 bitcoin reached a record level of just under $ 20,000 and had since fallen to $ 5,920. On Wednesday, it rose 4.2 percent on the day to 8,232 dollars on BitStamp.

 This year, crypto-currencies were affected by fears of active measures on the part of regulators and concerns that they were in a speculative bubble, which now blown away.

“Folks have their opinions, but no one really knows if it’s a bubble or a correction”

said Sol Waksman, president and founder of BarclayHedge.

 The data from the tracking of financial technology data Autonomous NEXT also confirms a bearish trend.

“There has been a slow-down in ICO (initial coin offering) proceeds that we track ($1 million and over), with a dip in February and a slight pick-up in March in terms of fundraising,” says Autonomous NEXT in a report that also published on this week.

ICO is a fund-raising mechanism in which start-ups create currencies or tokens and sell them to investors.

“There is also definitely a slow-ico 1 300x150 - Cryptocurrency Funds Fell Nearly 30 Percentdown in terms of ICOs starting in March. looking like the summer of last year, rather than the frenzy of the fall/winter “

says the London Autonomous NEXT.

Autonomous NEXT tracks 251 crypto funds. According to Autonomous NEXT, the volume of funds attracted to crypto-currency funds also increased very slightly in 2018.

The company said: “The number is not growing as quickly as we’d expect – partly because it’s a more difficult environment to raise, and partly because folks are being less vocal about what they’re doing.”

What happens with bitcoin?

1600x 1 2 1024x510 - Cryptocurrency Funds Fell Nearly 30 Percent

According to Bloomberg, regarding recent fluctuations in bitcoin, Tom Lee, head of research at Fundstrat Global Advisors, said: “I think it feels off right now because, you know, we’ve been on a downtrend since December, and now, even though the volatility hasn’t changed much,

it’s hard to tell if Bitcoin is trying to stage a recovery or if it’s continuing its down trend

 It’s the state of it now because there isn’t a ton of liquidity and there is regulatory uncertainty and general nervousness.”

That also expressed by Jonathan Benassaya, the founder and chief executive officer at San Francisco-based IronChain Capital: “The best explanation is

coming from those whales in the market who want to have some sort of control on what’s going on

It’s some manipulation from actors.”

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