Momentum strategies don’t appear to work with bitcoin
BTCUSD,
The past couple of weeks provide a good illustration of why. From an Oct. 19 high of almost $67,000, bitcoin fell $9,000 over the next eight days to just above $58,000 — indicating that the short-term trend was most definitely down. But, far from that trend continuing, bitcoin turned back up and over the next 12 days completely erased that decline.
The same…
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