Bitcoin Comes down with a thump…

Bitcoin came down with a hard thump yesterday with follow through this morning. The models have lightened their position sizes during this retracement, selling their bitcoin holding at an average of 2253.6 and their Monero (XMR) position at 37.09.

The market has slid further since these sales, bitcoin hitting a low of 2000.9 on Bitstamp and Monero hitting 29.5 on Poloniex. We now wait and see if the retracement continues or if we surge back to new highs … and the models response to the unfolding market action.

We’re now sitting at a gain of +100.37% on this real-time trading diary since we started live trading (30th March 2017). The model has traded all the cryptocurrencies profitably, Ripple (XRP) has been the best performer, showing a +961.06% gain, and more impressively, the models exited at 0.35 and have stayed out ever since, avoiding the 40% slide in XRP down to 0.20 at time of writing.

The models have fared least well trading DASH. This is “only” showing a 26.27% gain, it will be interesting to see if the models start to learn the unique characteristics of DASH that have made it harder to trade over the past 2 months. While we wouldn’t expect it to have matched the performance of ripple trading  (Ripple trading benefitted from a  surge in value of the underlying coin), DASH trading has also underperformed the other coins by a significant margin; the next worse model is Monero which has returned 50.18% over the period, almost twice as much.

Full results are below

CurrencyStarting BalanceUSDCryptoRateUSD EquivTOTALGain/loss
Ether Classic$203.00$0.0065.2324039310.7$697.99$697.99243.84%
Hold BTC$23,938.00$0.0022.907177032074$47,509.49$47,509.4998.47%

— Wintermute —


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