Since the algorithm never actually holds BTC, it expected and designed to outperform in high volatility environments, specifically by  outperforming in downtrends, and underperforming in parabolic uptrends. What this does is create a lower beta, more stable tracking of BTC which can save years of returns when BTC inevitably goes through its cycle after a parabolic high.

This chart is based on historical backtested data, testing the algorithm from the 2014 high to Feb 14th 2020.

Alternatively, here is the algorithm tested from the exact high of $20,000

What this illustrates, is that unlike BTC – it doesn’t matter when you invest into the algorithm. In this scenario, if you bought at 20k you would have to wait 3 years to make a profit, whereas the algo is making a profit after 3 months, even in the instance of a -86% bear market.