Katana Performance December 2023: +12.06%
During the last two weeks of 2023 the Bitcoin price consolidated in a range$ 40,500 - $44,440 closing out the year at $42,260. Unfortunately our trend following algo bought false breaks higher and sold false breaks lower with several positions closed out at loss as price reverted to the range. The market continues to anticipate imminent approval of several ETFs in the near future. This sentiment is maintaining support at current levels whilst Bitcoin whales and miners have both lightened their positions into year end.
Entering 2024 we expect continued Bitcoin price appreciation albeit in typically volatile fashion. We maintain our conviction that our systematic trend following approach will continue to produce solid risk adjusted alpha as the new year unfolds.
We would like to wish all our clients and readers of this correspondence a very Happy New Year.