In recent years, Bitcoin has been the most highly demanded digital asset. This is due to the fact that the digital asset has always defied all odds to experience significant price fluctuations.
However, Bitcoin has experienced a drop in value in recent weeks, dropping roughly 7% of its value before the beginning of the month.
Crypto hedge funds, on the other hand, have lost 2% in the same timespan, surpassing the top digital asset.
Bitcoin is currently down approximately 29% from its all-time high, according to the latest report. As a result, other altcoins have a better chance of making it into investors’ portfolios.
When comparing the year-to-date results of the two most popular digital assets, Ethereum currently outperforms Bitcoin.
Bitcoin has gained roughly 69 percent since the beginning of the year, comparable to Ethereum, which has gained a little more than 400 percent.
The most valuable digital asset was worth $29,000, while Ethereum was worth $740 per token. Another criterion taken into account was the market capitalization of digital assets, which outperformed Bitcoin by more than 200 percent.
The same may be said about the market capitalization of crypto hedge funds compared to Bitcoin, according to its analysis.
The Eurekahedge crypto hedge fund, for instance, experienced a 170 percent growth by November.
Following a string of setbacks, the cryptocurrency market has seen a small positive bounce in recent weeks. The crypto market valuation is currently around $2.37 trillion, according to CoinGecko data, indicating a slight boost of 3.6 percent in the last 24 hours.
After the Federal Reserve (FED) indicated that it would strengthen tapering around the acquisition of digital assets, Bitcoin is currently trading at $49,421.
The asset is currently trading near $48,000, with support near the 200 moving averages and above the price figure.
Ethereum, on the other hand, has maintained its upward trajectory, gaining 4.7 percent in the last day.
With that, the value of the second digital asset has surpassed $4,000 for the first time. The assets with the best result are SOL and AVAX, which trade at $177 and $105, separately.
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