The crypto market stood strong for the first week of the month and slightly recovered some of the losses from February, with an overall gain of 7.4%. During the first week, we had several open positions in the portfolio and were able to capture some of the gains. However, on 8 March, our strategy generated a sell signal, and, therefore, we closed all positions in an effort to hedge against a potential market downturn.

Just before 12 March, the WHO declared COVID-19 to be a pandemic, and the magnitude of the outbreak became clear, as it started to affect the global economy. The crypto market was not sheltered from the economic turmoil; on the contrary, the case for Bitcoin and other crypto assets worsened, due to the high leverage used in the crypto markets.

The crypto market experienced a loss of 50% over the course of 24 hours. In the aftermath, the market rebounded sharply, gaining over 45% in less than two hours, from its lowest point. After a few days of exorbitant volatility, the prices started to stabilize, and on 19 March, we reentered the market conservatively, with 50% of the portfolio. By the end of the month, the crypto market recorded one of its most volatile and worst performing months ever.

We are proud to report the performance of Solidum Crypto Quant Strategy in March. Our strategy generated a sell signal days before the market selloff, and we were able to hedge against the majority of the market losses. While the crypto market reported one of its worst monthly losses of -32.7%, the Solidum Crypto Quant Strategy recorded a relatively better monthly performance of -5.8%.

Chart 1 - Solidum Crypto Quant Performance (2020-03)
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DISCLAIMER: This article is for informational and discussion purposes only and does not constitute a marketing message, an investment survey, an investment recommendation, or investment advice. The article was prepared exclusively for a better understanding of market dynamics.

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