“主要見解：紀律嚴明的加密投資策略正在證明其價值再次”

紀律嚴明的加密投資策略正在再次證明其價值，因為以太坊（ETH）價格在2025年5月上旬獎勵了長期持有人的20％集會

A disciplined crypto investing strategy is proving its worth again, as Ethereum (ETH) price’s 20% rally in early May rewarded long-term holders who stayed the course through recent market turbulence.

一項紀律嚴明的加密投資策略再次證明了它的價值，因為以太坊（ETH）價格在5月初的20％集會獎勵了長期持有人，這些持有人在最近的市場動盪中留下了這一課程。

On Friday, May 9th, Ethereum Price climbed roughly 20% in a single day, jumping to about $2,445 per coin.

5月9日，星期五，以太坊的價格在一天內攀升了約20％，每枚硬幣躍升至2,445美元。

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Relative strength in ether also helped boost several altcoins, such as Solana (SOL), Dogecoin (DOGE) and Cardano (ADA) – each of which gained mid-single-digit percentages on Friday as the broader crypto complex surged.

以太的相對強度還有助於提高幾個高甲殼，例如Solana（Sol），Dogecoin（Doge）和Cardano（ADA） - 週五，每個山頂都獲得了中間位數的百分比。

Indeed, trading indicators reflected the broad move: CoinMarketCap’s Altcoin Season Index rose quickly from 23 to 39 in just a few days, signaling unusually strong breadth.

確實，交易指標反映了廣泛的舉動：CoinMarketCap的Altcoin季節指數在短短幾天內從23迅速增加到39個，表明了異常強烈的廣度。

In plain terms, nearly every token was higher on the week.

從簡單的角度來看，本週幾乎每個令牌都更高。

Now, this kind of wild, fast rally illustrates quickly how the market can move – and how nerve-wracking it can feel to watch prices swing.

現在，這種狂野，快速的集會很快說明了市場的發展方式，以及觀看價格搖擺的感覺如何。

Yet history shows that volatile bull runs often reward the investors who do the least. Behavioral finance offers a famous insight here.

然而，歷史表明，揮發性公牛經常獎勵最不做的投資者。行為金融在這裡提供了著名的見解。

A so-called “dead person” study by Fidelity, one of the largest asset managers in the world, found that the best-performing brokerage accounts over a ten-year span were ones where the owner was, ironically, inactive or even deceased.

世界上最大的資產經理之一富達（Fidelity）進行的一項所謂的“死人”研究發現，具有諷刺意味的是，在十年內，表現最好的經紀帳戶是諷刺的，諷刺的是，所有者是所有業主的經紀人帳戶。

In other words, doing nothing beat constant trading. The Fidelity data showed the highest returns came from forgotten accounts – owners who simply left their money invested and let compound growth take over.

換句話說，無所事事會超過不斷的交易。保真度數據顯示，收益最高的收益來自被遺忘的帳戶 - 所有者只是將資金投資並讓複合增長接管。

The runner-up best returns, not surprisingly, were from people who had also forgotten they even owned the account.

毫不奇怪的是，亞軍的最佳回報來自那些忘記他們甚至擁有該帳戶的人。

That finding matches what we know about market psychology. In a volatile bull run, every day brings fresh headlines and whims.

這一發現與我們對市場心理學的了解相匹配。每天都有揮發性的公牛奔跑，將新鮮的頭條新聞和異想天開。

News or speculation can drive prices up or down on a whim. But frequent trading tends to invite bad timing. As one industry observer put it, “because of our behavioral biases, we often find ourselves buying high and selling low.”

新聞或猜測可以一時興起或下跌。但是頻繁的交易往往會邀請不良時機。正如一個行業觀察家所說：“由於我們的行為偏見，我們經常發現自己購買高價而銷售低。”

Humans are prone to panic-selling the dips or chasing after the latest spike. By contrast, the “dead person” investor doesn’t watch the charts – they simply stay invested through ebbs and flows. Over long periods, that passive stance often trumps active timing.

在最新的尖峰之後，人類很容易恐慌或追逐。相比之下，“死人”的投資者不關注圖表 - 他們只是在潮起潮落和流動中投入投資。在長期以來，這種被動立場常常勝過積極的時機。

The recent crypto rally is a real-world test of this buy-and-hold mindset. Those who held through the pain of last year’s bear market are finally reaping rewards.

最近的加密集會是對這種買入思維方式的現實測試。那些經歷了去年熊市痛苦的人終於獲得了回報。

Ethereum’s 20% leap came after months of doubts, and it wiped out massive, short positions in minutes. In the same rally, even smaller altcoins spiked double digits, lifting portfolios across the board.

以太坊的20％飛躍經過數月的疑問，它在幾分鐘之內就消除了大量的短職位。在同一集會中，甚至較小的山寨幣都尖峰兩位數，將投資組合全面提升。

By contrast, a trader who tried to pick tops and bottoms might have missed the move or reacted too late. Staying put was the simple crypto investing strategy that worked best this time around.

相比之下，試圖選擇上衣和底部的交易員可能錯過了此舉或反應太晚。 Staying Put是這次簡單的加密投資策略，最有效。

Now, this isn’t a fluke. Crypto history is full of big swings where patient holders win. For example, look back at Bitcoin and Ether cycles: prices often overshoot on the way up or down, only to continue moving towards the north in the long run.

現在，這不是氟。加密歷史上充滿了耐心持有人獲勝的大波動。例如，回顧比特幣和以太週期：價格經常在上升或向下的途中過高，從長遠來看，價格才繼續向北移動。

Investors who “sell the news” or try to time the exact top usually underperform. Academic research has long warned that missing just a handful of the market’s best days can slash returns.

“出售新聞”或嘗試使確切頂級表現不佳的投資者。長期以來，學術研究一直警告說，僅缺少少數市場的最佳日子可以削減回報。

In bull markets, the handful of biggest up-days often account for a huge fraction of a coin’s lifetime gains. By sitting it out, the faithful “HODLer” (a crypto slang for a buy-and-hold enthusiast) avoids the urge to jump ship at the worst time.

在牛市中，少數最大的新天日通常佔硬幣終生收益的大部分。通過坐下來，忠實的“ Hodler”（用於購買和持有的愛好者的加密語）避免了在最壞的時候跳船的衝動。

As one crypto pundit notes, if an asset grows fifty-fold over a decade, there is simply no need to trade it day to day – you just let compound gains run.

正如一個加密專家所指出的那樣，如果資產在十年中增長了五十倍，那麼每天就無需進行交易 - 您只需讓複合收益運行即可。

So, in this run-up, the key lesson for crypto investors is patience. The data suggest that the best strategy in a fast-moving bull market can be to do nothing. A report by my colleague Godfrey Benjamin in September, shows that 65% of crypto investors are HOLDERS.

因此，在此起步中，加密投資者的關鍵課程是耐心。數據表明，快速發展的牛市中最好的策略可能是什麼都不做。我的同事戈弗雷·本傑明（Godfrey Benjamin）在9月份的一份報告表明，有65％的加密投資者是持有人。

History and behavioral studies line up on this: when markets roar ahead, the most successful accounts are often the ones of people who took a hands-off approach.

歷史和行為研究對此一致：當市場咆哮前進時，最成功的帳戶通常是那些採取動手做法的人。

It’s a counterintuitive insight, but a powerful one. As Ethereum and its peers rally, it seems the “buy and hold crypto” strategy is paying off for those who behaved like, well, dead men – at least in their trading accounts.

這是違反直覺的見解，但有力的見解。作為以太坊及其同齡人的集會，至少在其交易賬戶中，“購買和持有加密貨幣”策略似乎正在為那些表現得像死者的人帶來回報。