thanks for the post,

I have been doing similar experiments. This momentum strategy can work as long as there is inward capital flow. which we could expect for a while because people are still learning about block chain.

yes the experiment of top coins with "survivor bias" does not mean anything. but random portfolios are very interesting and tells us some things..

I did paper trade a momentum strategy for 3 weeks.

1st week high cap coins did well. low cap was around -10%
2nd week all the portfolios generated more than 50%
3rd week which was just 1 week before until today, (I also do rebalancing during tuesdays) low caps profited around 10%, high caps were around -5%.

which means yes low caps can return more.

I was thinking about publishing results and live trade it some day. as far as I know I can share my own positions and that would not constitute as trading advise. I got 30x and 6x in my experiements with different cap sizes.

lastly, I would be also very interested to see how the "buy low, sell high" strategy works.