“主要见解：纪律严明的加密投资策略正在证明其价值再次”

纪律严明的加密投资策略正在再次证明其价值，因为以太坊（ETH）价格在2025年5月上旬奖励了长期持有人的20％集会

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.

一项纪律严明的加密投资策略再次证明了它的价值，因为以太坊（ETH）价格在5月初的20％集会奖励了长期持有人，这些持有人在最近的市场动荡中留下了这一课程。

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，以太坊的价格在一天内攀升了约20％，每枚硬币跃升至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.

以太的相对强度还有助于提高几个高甲壳，例如Solana（Sol），Dogecoin（Doge）和Cardano（ADA） - 周五，每个山顶都获得了中间位数的百分比。

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.

确实，交易指标反映了广泛的举动：CoinMarketCap的Altcoin季节指数在短短几天内从23迅速增加到39个，表明了异常强烈的广度。

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

从简单的角度来看，本周几乎每个令牌都更高。

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.

现在，这种狂野，快速的集会很快说明了市场的发展方式，以及观看价格摇摆的感觉如何。

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

然而，历史表明，挥发性公牛经常奖励最不做的投资者。行为金融在这里提供了著名的见解。

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.

世界上最大的资产经理之一富达（Fidelity）的一项所谓的“死人”研究发现，在十年内，表现最好的经纪帐户是所有者具有讽刺意味的，具有讽刺意味的是，所有者是那些经纪人的经纪人。

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.

换句话说，无所事事会超过不断的交易。保真度数据显示，收益最高的收益来自被遗忘的帐户 - 所有者只是将资金投资并让复合增长接管。

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，亚军的最佳回报来自那些忘记他们甚至拥有该帐户的人。

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

这一发现与我们对市场心理学的了解相匹配。每天都有挥发性的公牛奔跑，将新鲜的头条新闻和异想天开。

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.”

新闻或猜测可以一时兴起或下跌。但是频繁的交易往往会邀请不良时机。正如一个行业观察家所说：“由于我们的行为偏见，我们经常发现自己购买高价而销售低。”

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.

在最新的尖峰之后，人类很容易恐慌或追逐。相比之下，“死人”的投资者不关注图表 - 他们只是在潮起潮落和流动中投入投资。在长期以来，这种被动立场常常胜过积极的时机。

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.

最近的加密集会是对这种买入思维方式的现实测试。那些经历了去年熊市痛苦的人终于获得了回报。

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％飞跃经过数月的疑问，它在几分钟之内就消除了大量的短职位。在同一集会中，甚至较小的山寨币都尖峰两位数，将投资组合全面提升。

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，试图选择上衣和底部的交易员可能错过了此举或反应太晚。 Staying Put是这次简单的加密投资策略，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.

现在，这不是氟。加密历史上充满了耐心持有人获胜的大波动。例如，回顾比特币和以太周期：价格经常在上升或向下的途中过高，从长远来看，价格才继续向北移动。

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.

“出售新闻”或尝试使确切顶级表现不佳的投资者。长期以来，学术研究一直警告说，仅缺少少数市场的最佳日子可以削减回报。

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，少数最大的新天日通常占硬币终生收益的大部分。通过坐下来，忠实的“ Hodler”（用于购买和持有的爱好者的加密语）避免了在最坏的时候跳船的冲动。

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.

正如一个加密专家所指出的那样，如果资产在十年中增长了五十倍，那么每天就无需进行交易 - 您只需让复合收益运行即可。

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，加密投资者的关键课程是耐心。数据表明，快速发展的牛市中最好的策略可能是什么都不做。我的同事戈弗雷·本杰明（Godfrey Benjamin）在9月份的一份报告表明，有65％的加密投资者是持有人。

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.

历史和行为研究对此一致：当市场咆哮前进时，最成功的帐户通常是那些采取动手做法的人。

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.

这是违反直觉的见解，但有力的见解。作为以太坊及其同龄人的集会，至少在其交易账户中，“购买和持有加密货币”策略似乎正在为那些表现得像死者的人带来回报。