Findings by PwC and Elwood confirm the extent of the challenges, with bitcoin prices since decisively reversing. Statistics reveal hedge funds in the crypto sector saw near-50% losses last year, according to a report from Pwc and Elwood The 2018 cryptocurrency bear market cost the median crypto hedge fund almost 50%, a new survey headed by PwC revealed on May 12. According to the findings, around 150 cryptocurrency hedge funds survived last year, which saw bitcoin (BTC) falling from $20,000 to just $3,000.