Bloomberg: Bitcoin’s Recent Renaissance Could Be Linked to Algorithmic Trading

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The recent crypto market jump could be linked to algorithmic trading, Bloomberg writes on Wednesday, April 3.Algorithmic trading — a method that uses automated software to detect trends and determine when trades should be made — has been on the rise in the last few months, according to Bloomberg. The industry has seen 17 new algo or quantitative funds launched since September, an amount that purportedly comprises 40 percent of crypto hedge funds started during this period.While crypto funds in general lost around 72 percent due to the 2018 bear market, these algo funds reported on gains of between 3 percent and 10 percent per month during the so-dubbed crypto winter.Bloomberg states that Bitcoin’s (BTC) unexpected 20 percent surge price on Tuesday, April 2, shortly after the Asian markets opened, might have been provoked by a $100 million trade made on three major exchanges.As experts told Reuters, a 20,000 BTC…

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