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Katana Mid-December 2023
December 15, 2023

The Bitcoin price began December trading at 37,750. Within 6 days the price rallied to a high of 44,550, an increase of 18.00%. Our trend following strategy was long through this period and open positions were at that point showing returns of 24%.

An initial sell off saw the algorithm take profits on some of the open positions. Long positions were then re-entered just below new MTD price highs that occurred a few days later [Trend following strategy buys price strength]. A vicious collapse in prices of over 10% from these highs occurred on Monday 11th. All Katana long positions were exited on this price correction. A short position was initiated near the lows of 40,000 and stopped out. Consequently Katana performance stands at +17% month to date.

On Thursday this week we saw the Fed keep US interest rates unchanged. Bitcoin and other risk assets rallied strongly on market perceptions of multiple interest rate cuts occurring in 2024 – 2025. This combined with potential ETF announcements & Bitcoin halving point to continued strong Bitcoin price growth over the next 12 months.

Check Out Performance in November
More Blogs

Katana February 2025 EOM

A decisive breakdown occurred late in the month when Bitcoin breached $93,000, stopping out our long positions and initiating new shorts.

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Katana January 2025 EOM

We witnessed multiple moves from above US$105,000 down to as low as US$89,000. The retracements have been rapid and vicious.

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Katana Mid-Jan 2025 EOM

The trends have not continued and the range trade has held.

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Cutting Edge Wholesale Pty Ltd (ACN 658 904 226) is a Corporate Authorised Representative (1297265) under AFSL 484609 and is a wholly owned subsidiary of Cutting Edge Capital Pty Ltd (ACN 649 689 314). Any information or advice contained on this website is general in nature only and does not constitute personal or investment advice. We will not accept liability for any loss or damage, including without limitation to, any loss of profit, which may arise directly or indirectly from the use of or reliance on such information. You should seek independent financial advice prior to acquiring a financial product. All securities and financial products or instruments transactions involve risks. Please remember that past performance results are not necessarily indicative of future results. The information on this site may be accessed worldwide however it is not directed at residents in any country or jurisdiction where such distribution or use would be contrary to local law or regulation.
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