First things first: Just like you, we are all well-aware of the downward performance of the Autopilot since the highs of early September. But it is important to look at it from the greater context of the crypto market and remember that the Autopilot is optimized for the longer term. Not 2 months. Altcoins have generally been underperforming while Bitcoin has been taking center stage and vice-versa. And while the performance in BTC is hurt by BTC-dominance, when you look at it in EUR terms, the Autopilot is buoyed by the BTC rally.
We witnessed this on a smaller scale over the summer and many times throughout the history of crypto markets. Bitcoin season and altcoin seasons tend to occur in cycles. Between November 6, 2019 and January 6, 2020 and between February 13 and March 16, the Autopilot’s performance also followed the market's downward trend, but as indicated in the chart, the Autopilot is generally better at preserving its gains compared to alternative strategies or when compared to holding Bitcoin alone. We have seen the Autopilot bounce back every single time. Furthermore, the Autopilot is also much better at exposing itself to smaller, promising coins. If you take the long-term view, it’s a robust diversification strategy. Last but not least, we wanted to include the fact that our own initial BTC allocation continues to be managed by the Autopilot and none of the key team members have withdrawn their personal BTC. Several team members have actually added more by “buying the dip”.
Charts of the the long-term view and how the Autopilot fares against other strategies: