Exiting Bitcoin position due to bearish outlook; adopting discipline to exit completely when bearish rather than holding with mixed conviction.
Bearish on Bitcoin; policy to completely exit if feeling bearish rather than hold conflicted positions
Bitcoin is below 70k. After experiencing too many bleedout, and "hold it because I still like it", I adopted a policy of completely exiting position if I feel bearish. It makes no sense to be both bearish and bullish. It feels good to be decisive.
| Horizon | Raw move | vs SPY |
|---|---|---|
| 1 day | -2.7% | -2.0% |
| 1 week | -7.7% | -4.7% |
| 1 month | -8.5% | -6.6% |
| 3 months | — | — |
| 6 months | — | — |