CEO Hedgeye explained the sale of bitcoin by the entry of the economy into the “fourth quarter”
Hedgeye Risk Management CEO Keith McCulloch Explains Reasons For His Decision To Liquidate Bitcoin Position This Week.
According to McCulloch, the US economy is in the fourth quarter (English – Quad 4) – the only unfavorable for maintaining long positions in Bitcoin. The concept of quarters is an integral part of the Growth Inflation Policy (GIP) model, which defines the characteristics of various economic regimes..
The fourth quarter is characterized by a slowdown in growth and inflation. “The fourth quarter is the lowest point in the economic cycle. Our entire macroeconomic research business is based on the idea of reducing losses during the fourth quarter, ”explains McCulloch..
Back in late September, he said that in those conditions, it was right to hold a long position on Bitcoin. Now his company is aligning its strategy with deflationary expectations in the short term. According to the manager, the dollar demonstrates strength against the Japanese yen for the first time in recent months.
“You can take long and short positions, but there are important moments in time when you should not stay in a long, to which you are ideologically tied in a macroeconomic environment,” he wrote earlier.
McCulloch observed that bitcoin holders did not heed his advice: “I expected more from the bitcoin nation. I thought they did the calculations. Instead, they follow stories and emotions. “.
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