*Volatility Drag CAGR (Compound Annual Growth Rate) ≈ μ − ½σ² Bitcoin's σ (volatility) is very high. Therefore, the following actions amplify volatility further, causing the CAGR to drop: - Repeatedly buying and selling - Using leverage - Selling out of fear during a bear market These actions increase volatility and ultimately ruin long-term returns. Ironically, the best strategy for the most volatile assets is to do nothing. Just hold. Volatility is the entry fee to the game. If you endure the volatility, you gain CAGR. If you fight against volatility, you are essentially throwing your money away to the market. + "The 100 investors in the world are really good at doing nothing for long periods of time."