  Cryptocurrency markets have many of the characteristics of 20th century
commodities markets, making them an attractive candidate for trend following
strategies. We present a decade of evidence from the infancy of bitcoin,
showcasing the potential investor returns in cryptocurrency trend following,
255% walkforward annualised returns. We find that cryptocurrencies offer
similar returns characteristics to commodities with similar risk-adjusted
returns, and strong bear market diversification against traditional equities.
Code available at https://github.com/Globe-Research/bittrends.
