Institutional investors believe that speculators keep cryptocurrency interesting for investors and due to that the price will go down soon. They doubt that Ethereum rates will go up any time soon, says Forbes. Cryptocurrency hedge funds are sure the alt coin cost will go down because it’s been overestimated. New York Tetras Capital is shorting Ethereum.Last time it happened in May when the price was over $600. Right now it’s trading at $480. Last week the fund published why the real token price is lower than the market price. Hidden Hand Capital supports it. The company manages assets equal to $100 million. Hidden Hand Capital doubts $48,5 billion capitalization of the decentralized platform due to its technical ability. Hedge Fund Neural Capital is also selling the token right now. However, there are institutional investors that trust altcoin. Jake Brukhman, the founder of CoinFund from Brooklyn has been owning Ethereum since July 2015. Approximately 20-42% of the company assets are in Ethereum tokens. Kyle Samani, Multicoin Capital partner, stated that he was not going to cut any more deals and willing to sell Ethereum. Meltem Demirors, the director of CoinShares, also said that she would not purchase Ethereum because speculators were making it interesting for investors. |
