(Marketwatch) What a difference a year makes in the world of digital currencies. Bitcoin was flying more than 1,000% higher in 2017, and with venture capital and institutional firms flush with cash, investors deployed funds to tap into what must have seemed like a bottomless pot of gold. However, 2018 has been anything but that. Bitcoin BTCUSD, +0.15% is in its fifth-largest drawdown since 2010, losing nearly 80% of its value from its December 2017 high, and that cash that was once plentiful, has dried up for some, while other so-called crypto hedge funds set to close their doors.
How Bitcoin’s Meltdown Is Ravaging Hedge Funds
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