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I wouldnt be surprised if the standard BTC sold because we were bumping up against the 200dma without any significant breakthrough for a while (and with the luxury of looking back it made the right choice). BTC-beta didnt exactly blow it either though, taking the whole swing into consideration getting 5.5% isnt bad for a weeks work. It popped off another negative anomaly too, so if we continue down into the low 8’s/7’s I would certainly enjoy that buying opportunity.
Totally agreed, this is a make or break level. It will not likely sit still here for long, and probably move quickly when it decides to move. I would do the same, stop loss maybe around 8500 give or take. If I weren’t doing the autotrade, that is.
High fives all around!
kw brings up a good point, particularly if you subscribe to the stock to flow hypothesis, it might be more advantageous in certain eras to maximize bitcoin accumulation with an eye towards the impending halving event.
All about passive ETFs now, which some think may exacerbate a market downturn. We will find out eventually!
Have you been developing an analogous BCH-beta and LTC-beta? Wonder how the anomaly detection would have fared in this scenario.
Im willing to forgive a lackluster start to BTC-beta because BTC 3.0 saved me a boatload getting out at 10k (before playing ball again around 8k). As a veteran of the last crazy run and watching how it can plunge (didnt get out at 19k ill tell you that much), its nice to have the insurance of a robot pulling the sell trigger if it crashes while Im asleep. 3% losses are annoying, but much better than the 20%+ you could be left with. If you love bitcoin and want to buy and hold, youll still make money imo. But I also think that we may see it go 10x then crash 50%, and thats where I think these algos become worth it (even with tax and fees issues).
Also as of posting we are at 8430 so I hope that helps (It better keep going)
Beware the tyranny of choice. More fun when we ride or die together anyways!
That btc-beta run from the high 6000s was picture perfect. May they all be so successful!
Glad to see it joined the party!
BTW very annoyed I slept through that 1am BTC alert. Cant win em all I guess.