Bitcoin Becomes More Investable

In my last blog post, “A Sensible Approach to Bitcoin”, I reviewed the pros and cons of bitcoin. For reasons in that article, I regard bitcoin as a high-risk, high-potential reward trading vehicle rather than as a permanent investment. Academic research here and here supports bitcoin trading based on its strong price momentum. Source: Yang…

A Sensible Approach to Bitcoin

Last year when bitcoin had its fourth drawdown of 80% in the past ten years, I thought It might be a good time to reenter that market. Having traded digital assets in 2017, I was familiar with reasons for owning bitcoin. I won’t reiterate them here. You can find information on bitcoin, blockchain, and decentralized…

Seasonality Factor

Our first look at calendar influences was in analyzing the best time during the month to execute dual momentum trades. Studies here, here, and here show that stocks perform best early in the month. This is when institutional investors make changes to their portfolios. Prices then are most representative of their true value. Here are the Sharpe and…