投資者加劇了加密貨幣，因為比特幣接近創紀錄的高

今年早些時

Investors in Australia have been quickly increasing their exposure to cryptocurrency as bitcoin trades close to its record high, analysts said on Monday, placing a bold bet that could pay off handsomely.

分析師週一表示，隨著比特幣交易接近其創紀錄的高度，澳大利亞的投資者一直在迅速增加對加密貨幣的接觸。

Earlier this year, bitcoin plunged from its record of around $109,000 on January 20 - the day U.S. President Donald Trump was inaugurated - to a low of about $90,000 in March.

今年早些時候，比特幣從1月20日的記錄降低了約109,000美元的記錄 - 美國總統唐納德·特朗普（Donald Trump）就職典禮的那天，至3月的低點約為90,000美元。

But the world’s largest digital asset has since recovered briskly and crossed the key $100,000 level last week for the first time since February. Bitcoin extended that rally on Monday to trade near $105,000.

但是自從2月以來，世界上最大的數字資產自從上週首次恢復了100,000美元。比特幣在周一延長了該集會，交易近105,000美元。

Bitcoin’s resilience amid a broader selloff in financial markets and a pessimistic outlook from economists has prompted some analysts to place even more bullish price calls on the volatile coin.

比特幣在金融市場上更廣泛的拋售中的韌性，經濟學家的悲觀前景促使一些分析師對揮發性硬幣的價格更加看漲。

Analysts at JPMorgan Chase have said they expect bitcoin to drop to $48,000 by the fourth quarter as the cryptocurrency trades at "exuberant" valuations.

摩根大通（JPMorgan Chase）的分析師表示，由於加密貨幣以“旺盛”的估值進行交易，他們預計到第四季度，比特幣將降至48,000美元。

But other analysts remain bullish on bitcoin, with those at Standard Chartered going as far as to tip prices to hit $200,000 this year.

但是其他分析師仍然對比特幣看漲，而標準特許的人甚至將價格提高到今年的價格為200,000美元。

Bitcoin has soared in recent months amid optimism over the potential of Web3 technology, which aims to decentralise the internet and could usher in a new wave of innovation.

近幾個月來，比特幣對Web3技術的潛力樂觀，該技術旨在分散互聯網，並可能引入新的創新浪潮。

The cryptocurrency has also drawn interest from macro investors seeking an inflation hedge in a rapidly changing economic landscape.

加密貨幣也引起了宏觀投資者的興趣，在快速變化的經濟格局中尋求通貨膨脹對沖。

Bitcoin's price movements are notoriously volatile and can be influenced by a variety of factors, including changes in market sentiment, government policy, and macroeconomic trends.

眾所周知，比特幣的價格變動是波動的，可能會受到各種因素的影響，包括市場情緒，政府政策和宏觀經濟趨勢的變化。

Earlier this year, bitcoin's price came under pressure from a selloff in riskier assets as the Federal Reserve began to raise interest rates and chart a more hawkish monetary policy.

今年早些時候，隨著美聯儲開始提高利率並製定了更鷹派的貨幣政策，比特幣的價格受到風險更高的資產的拋售構成壓力。

However, bitcoin has since recovered briskly and is now trading at nearly 10-month highs. This recovery has been driven by a number of factors, including renewed interest in Web3 technology and bitcoin's role as an inflation hedge in a rapidly changing economic landscape.

但是，自那以後，比特幣恢復了快速，現在正處於近10個月的高點。這種恢復是由許多因素驅動的，包括對Web3技術的重新興趣以及比特幣在迅速變化的經濟格局中作為通貨膨脹對沖的作用。

As the cryptocurrency market continues to evolve, it will be interesting to see how investors react to the latest developments and what impact they have on bitcoin's price.output: Investors in Australia have pounced on the plunge in bitcoin earlier this year and have been rapidly increasing exposure to the cryptocurrency in a bold bet that could pay off handsomely, analysts said on Monday, placing a pessimistic outlook on the outlook for equities.

As the cryptocurrency market continues to evolve, it will be interesting to see how investors react to the latest developments and what impact they have on bitcoin's price.output: Investors in Australia have pounced on the plunge in bitcoin earlier this year and have been rapidly increasing exposure to the cryptocurrency in a bold bet that could pay off handsomely, analysts said on Monday, placing a pessimistic outlook on the outlook for equities.

Australian investors upped their allocation to cryptocurrencies in the first quarter, enticed by the stellar returns and the promise of more gains as the cryptocurrency market recovered briskly from a dismal 2022, an analysis of capital flows showed.

對資本流量的分析顯示，澳大利亞投資者在第一季度將其分配給加密貨幣，並受到了恆星回報的誘因，並且隨著加密貨幣市場從2022年慘淡的2022年輕快地恢復，獲得了更多收益。

The shift in investor preference was particularly striking given that the Australian share market also performed well in the first quarter, with the benchmark S&P/ASX200 index rising by 10.4%.

鑑於澳大利亞股票市場在第一季度表現良好，因此投資者偏好的轉變尤其令人驚訝，而基準標準和P/ASX200指數上升了10.4％。

However, investors chose to reduce their exposure to Australian equities, preferring instead to increase their allocation to cryptocurrencies, which saw a steeper recovery from last year’s selloff.

但是，投資者選擇減少對澳大利亞股票的接觸，而寧願將其分配給加密貨幣，這比去年的拋售更加陡峭。

A Bank of International Settlements report last month showed that cryptocurrency market activity had slowed in the first quarter, with volumes in futures, options and other derivatives declining from the record highs seen in 2022.

上個月的國際定居點報告顯示，第一季度加密貨幣市場活動放緩，期貨，期權和其他衍生品的數量從2022年的創紀錄高點下降。

Despite the reduced activity, institutional investor interest in cryptocurrencies remained elevated throughout 2022 and into 2023, as investors sought new avenues for generating returns in a challenging macroeconomic environment.

儘管活動減少了，但在整個2022年和2023年，機構投資者對加密貨幣的興趣仍然升高，因為投資者尋求新的途徑來在挑戰性的宏觀經濟環境中產生回報。

The Australian investors’ move to increase their cryptocurrency holdings comes amid a broader selloff in financial markets and a pessimistic outlook from economists.

澳大利亞投資者的舉動增加了加密貨幣持有量，這是由於在金融市場上更廣泛的拋售以及經濟學家的悲觀前景。

Standard Chartered's analysts are among the few bullish on bitcoin this year, with their latest price target standing at $200,000. They previously predicted that bitcoin would reach $150,000 by the end of 2023.

Standard Charter的分析師是今年比特幣的少數幾位看漲者之一，其最新目標目標為20萬美元。他們此前曾預測，到2023年底，比特幣將達到15萬美元。

However, JPMorgan Chase analysts have said they expect bitcoin to drop to $48,000 by the fourth quarter as the cryptocurrency trades at "exuberant" valuations. They advise investors to prefer equities over bitcoin in the second half of 2023.

但是，摩根大通（JPMorgan Chase）分析師表示，由於加密貨幣以“旺盛”的估值進行交易，他們預計到第四季度，比特幣將降至48,000美元。他們建議投資者在2023年下半年更喜歡股票而不是比特幣。

In March, Australian investors were also seen reducing their exposure to U.S. equities, which are now valued at 16.8% of total portfolio holdings, down from 17.5% at the fourth quarter of 2022. This move might be linked to the recent selloff in the U.S. stock market.

3月，還看到澳大利亞投資者減少了他們對美國股票的敞口，現在價值佔投資組合總控股的16.8％，低於2022年第四季度的17.5％。這一舉動可能與美國股票市場最近的拋售有關。

After a stellar performance in 2022, which saw the S&P 500 index rise by 25%, the U.S. equities market encountered some turbulence in the first quarter of 2023.

在2022年的出色表現（標準普爾500指數上升25％）之後，美國股票市場在2023年第一季度遇到了一些動盪。

The S&P 500 index experienced a decline of 0.8% in the first quarter, and it encountered further volatility in recent months amid concerns over rising inflation, interest

標準普爾500指數在第一季度下降了0.8％，並且由於對通貨膨脹率上升，利息的擔憂，最近幾個月遇到了進一步的波動。