How Effective are Common Investment Strategies with Bitcoin?

Commissioned by Iconic Funds

Prepared by Robert Richter, Philipp Rosenbach

To gain a deeper understanding of how effective common investment strategies are when applied to Bitcoin, Iconic Funds commissioned an empirical research report. The report was written by Philipp Rosenbach and Robert Richter, a research fellow at Frankfurt School Blockchain Center. Research partners included Enigma Securities and BTC-Echo.

The “How effective are common investment strategies with Bitcoin?” report examines three of the most commonly known trading strategies, namely, turnaround investing, trend investing and investing according to the old adage “sell in May and go away”, more commonly known as the Halloween Factor. The report compares those investment approaches to a simple “buy and hold” strategy and investigates if they can be applied to Bitcoin and if so, how they may perform.


Originally published at on November 30, 2020.

Institutional Crypto Asset Management, Bridging Capital and Crypto Markets