The price of Bitcoin (BTC) and Ether (ETH) fell by 15% and 20%, respectively, on April 23 as the cryptocurrency market became engulfed in a major correction, wiping over $200 billion of the value of the market.
Bitcoin’s high coincided with the stock-market launch of Coinbase Global Inc., the biggest U.S. cryptocurrency exchange. The two events marked the pinnacle of a heady rally for cryptocurrencies that began last year.
While it makes perfect sense for the market to undergo a major correction, it once again shows the risk of betting all on the queen of cryptocurrencies.
In such a context, arbitrage opportunities have rarely been so abundant, allowing us to achieve a new performance record at 8.79%.
May 10, 2021.