Returns vs. drawdowns—who is more stubborn?
$BTC rose from 79,075 on the 8th to today's 77,556, down 1.92%, dropping from the swing high of 79,860 to the 76,000 round number, with a maximum drawdown of 4.83%. Fortunately, 76,000 failed to break through three times, so I managed to hold on; otherwise, the lower side would have been hard to predict. $ETH rose 0.92% from 2488 to 2511, which doesn't look like much, but on 9/11, it jumped directly from 2437 to 2666, a 9.4% intraday gain. Although it was rebounded, it at least closed in the red.
$ETH's maximum drawdown was actually larger than $BTC, with a 9.85% drawdown from 2666 to 2403, because on 9/10, it fell from 2522 to 2403—a big bearish candlestick. But a big drawdown doesn't mean a big loss—$ETH annualized volatility is 36.4% versus $BTC 22.2%. $ETH is naturally fickle, and when it crashes, it bounces quickly. From 2403 to 2666 takes just two days. $BTC dragging it out for five days and still hasn't bounced back—that's the real pain.
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