= \u5f00\u5934\u6458\u8981 =<\/p>\n
\u60f3\u77e5\u9053\u6bd4\u7279\u5e01\u4e0e\u7f8e\u5143\u4e4b\u95f4\u7a76\u7adf\u5b58\u5728\u600e\u6837\u7684\u5173\u8054\uff1f\u672c\u6587\u6df1\u5165\u5256\u6790\u4e24\u8005\u6c47\u7387\u6ce2\u52a8\u80cc\u540e\u7684\u6838\u5fc3\u903b\u8f91\uff0c\u63d0\u4f9b\u4ece\u5165\u95e8\u5230\u5b9e\u6218\u7684\u5b8c\u6574\u6295\u8d44\u7b56\u7565\u3002\u65e0\u8bba\u4f60\u662f\u52a0\u5bc6\u8d27\u5e01\u65b0\u624b\u8fd8\u662f\u8d44\u6df1\u73a9\u5bb6\uff0c\u8fd9\u4efd\u6307\u5357\u90fd\u80fd\u5e2e\u52a9\u4f60\u66f4\u597d\u5730\u628a\u63e1\u5e02\u573a\u8109\u52a8\uff0c\u505a\u51fa\u660e\u667a\u7684\u6295\u8d44\u51b3\u7b56\u3002<\/p>\n
= \u4ec0\u4e48\u662f\u6bd4\u7279\u5e01\u4e0e\u7f8e\u5143\u7684\u5173\u7cfb =<\/p>\n
\u6bd4\u7279\u5e01\u4e0e\u7f8e\u5143\u7684\u5173\u7cfb\u662f\u52a0\u5bc6\u8d27\u5e01\u5e02\u573a\u4e2d\u6700\u91cd\u8981\u7684\u6c47\u7387\u6307\u6807\u4e4b\u4e00\u3002\u6bd4\u7279\u5e01\uff08Bitcoin\uff09\u4f5c\u4e3a\u7b2c\u4e00\u79cd\u53bb\u4e2d\u5fc3\u5316\u6570\u5b57\u8d27\u5e01\uff0c\u5176\u4ef7\u503c\u901a\u5e38\u4ee5\u7f8e\u5143\u8ba1\u4ef7\uff0c\u8fd9\u79cd\u8ba1\u4ef7\u65b9\u5f0f\u88ab\u79f0\u4e3a”\u6bd4\u7279\u5e01\u5bf9\u7f8e\u5143\u6c47\u7387”\uff08BTC\/USD\uff09\u3002<\/p>\n
\u5f53\u6295\u8d44\u8005\u8ba8\u8bba”bitcoin a dolar”\u65f6\uff0c\u4ed6\u4eec\u5b9e\u9645\u4e0a\u5728\u5173\u6ce8\u6bd4\u7279\u5e01\u76f8\u5bf9\u4e8e\u7f8e\u5143\u7684\u4ef7\u503c\u53d8\u5316\u3002\u8fd9\u4e00\u6c47\u7387\u53d7\u591a\u79cd\u56e0\u7d20\u5f71\u54cd\uff0c\u5305\u62ec\u4f9b\u9700\u5173\u7cfb\u3001\u5b8f\u89c2\u7ecf\u6d4e\u73af\u5883\u3001\u76d1\u7ba1\u653f\u7b56\u3001\u5e02\u573a\u60c5\u7eea\u7b49\u3002\u7406\u89e3\u8fd9\u4e00\u5173\u7cfb\u5bf9\u4e8e\u52a0\u5bc6\u8d27\u5e01\u6295\u8d44\u81f3\u5173\u91cd\u8981\uff0c\u56e0\u4e3a\u7f8e\u5143\u4f5c\u4e3a\u5168\u7403\u50a8\u5907\u8d27\u5e01\uff0c\u5176\u8d70\u52bf\u76f4\u63a5\u5f71\u54cd\u6bd4\u7279\u5e01\u7684\u5438\u5f15\u529b\u548c\u4f30\u503c\u3002<\/p>\n
\u4ece\u672c\u8d28\u4e0a\u8bb2\uff0c\u6bd4\u7279\u5e01\u4e0e\u7f8e\u5143\u5448\u73b0\u51fa\u4e00\u79cd\u590d\u6742\u7684\u52a8\u6001\u5173\u7cfb\uff1a\u5f53\u7f8e\u5143\u8d70\u5f3a\u65f6\uff0c\u6bd4\u7279\u5e01\u53ef\u80fd\u9762\u4e34\u4e0b\u884c\u538b\u529b\uff1b\u5f53\u7f8e\u5143\u8d70\u5f31\u65f6\uff0c\u6bd4\u7279\u5e01\u5f80\u5f80\u83b7\u5f97\u4e0a\u6da8\u52a8\u529b\u3002\u7136\u800c\uff0c\u8fd9\u79cd\u5173\u7cfb\u5e76\u975e\u7edd\u5bf9\uff0c\u5e02\u573a\u4e2d\u4e5f\u5b58\u5728\u5176\u4ed6\u4e3b\u5bfc\u56e0\u7d20\u3002<\/p>\n
= \u6bd4\u7279\u5e01\u4e0e\u7f8e\u5143\u5173\u7cfb\u7684\u5173\u952e\u8981\u70b9 =<\/p>\n
– \u6c47\u7387\u8868\u793a\u65b9\u6cd5\uff1aBTC\/USD\u8868\u793a1\u6bd4\u7279\u5e01\u7b49\u4e8e\u591a\u5c11\u7f8e\u5143
\n– \u907f\u9669\u8d44\u4ea7\u5c5e\u6027\uff1a\u6bd4\u7279\u5e01\u5e38\u88ab\u89c6\u4e3a\u6570\u5b57\u9ec4\u91d1\uff0c\u4e0e\u7f8e\u5143\u5f62\u6210\u907f\u9669\u7ade\u4e89
\n– \u9006\u5411\u76f8\u5173\u6027\uff1a\u7406\u8bba\u4e0a\u7f8e\u5143\u8d70\u5f3a\u65f6\u6bd4\u7279\u5e01\u4ef7\u503c\u627f\u538b\uff0c\u4f46\u5b9e\u9645\u5e02\u573a\u66f4\u590d\u6742
\n– \u4f9b\u9700\u51b3\u5b9a\u4ef7\u683c\uff1a\u6bd4\u7279\u5e01\u4ea7\u91cf\u56fa\u5b9a\uff082100\u4e07\u679a\uff09\uff0c\u4f9b\u5e94\u7a00\u7f3a\u6027\u5f71\u54cd\u957f\u671f\u4ef7\u503c
\n– \u673a\u6784\u53c2\u4e0e\u5ea6\uff1a\u673a\u6784\u6295\u8d44\u8005\u7684\u7f8e\u5143\u914d\u7f6e\u51b3\u7b56\u76f4\u63a5\u5f71\u54cd\u6bd4\u7279\u5e01\u9700\u6c42
\n– \u76d1\u7ba1\u653f\u7b56\u5f71\u54cd\uff1a\u7f8e\u56fd\u7684\u52a0\u5bc6\u8d27\u5e01\u653f\u7b56\u5bf9BTC\/USD\u6c47\u7387\u4ea7\u751f\u91cd\u5927\u5f71\u54cd
\n– \u5168\u7403\u7ecf\u6d4e\u56e0\u7d20\uff1a\u901a\u80c0\u3001\u5229\u7387\u3001\u5730\u7f18\u653f\u6cbb\u7b49\u5b8f\u89c2\u56e0\u7d20\u540c\u65f6\u5f71\u54cd\u4e24\u8005<\/p>\n
= \u5982\u4f55\u5206\u6790\u6bd4\u7279\u5e01\u7f8e\u5143\u6c47\u7387\u8d70\u52bf =<\/p>\n
\u7b2c\u4e00\u6b65\uff1a\u5173\u6ce8\u5b8f\u89c2\u7ecf\u6d4e\u6307\u6807<\/p>\n
\u5206\u6790\u6bd4\u7279\u5e01\u4e0e\u7f8e\u5143\u5173\u7cfb\u65f6\uff0c\u9996\u5148\u9700\u8981\u5173\u6ce8\u7f8e\u56fd\u7ecf\u6d4e\u6570\u636e\uff0c\u5305\u62ec\u975e\u519c\u5c31\u4e1a\u6570\u636e\u3001CPI\u901a\u80c0\u7387\u3001GDP\u589e\u957f\u7387\u3001\u5229\u7387\u51b3\u8bae\u7b49\u3002\u8fd9\u4e9b\u6307\u6807\u53cd\u6620\u7f8e\u5143\u5f3a\u5f31\uff0c\u76f4\u63a5\u5f71\u54cd\u6bd4\u7279\u5e01\u7684\u76f8\u5bf9\u4ef7\u503c\u3002<\/p>\n
\u7b2c\u4e8c\u6b65\uff1a\u8ffd\u8e2a\u5e02\u573a\u60c5\u7eea\u548c\u8d44\u91d1\u6d41\u5411<\/p>\n
\u89c2\u5bdf\u6bd4\u7279\u5e01ETF\u8d44\u91d1\u6d41\u5411\u3001\u673a\u6784\u6301\u4ed3\u53d8\u5316\u3001\u671f\u8d27\u5e02\u573a\u6301\u4ed3\u6570\u636e\u7b49\uff0c\u8fd9\u4e9b\u6307\u6807\u80fd\u53cd\u6620\u5e02\u573a\u4e3b\u529b\u5bf9\u6bd4\u7279\u5e01\u7684\u4fe1\u5fc3\u7a0b\u5ea6\u3002\u8d44\u91d1\u6d41\u5165\u901a\u5e38\u63a8\u52a8\u4ef7\u683c\u4e0a\u6da8\uff0c\u6d41\u51fa\u5219\u53ef\u80fd\u5bfc\u81f4\u4e0b\u8dcc\u3002<\/p>\n
\u7b2c\u4e09\u6b65\uff1a\u6280\u672f\u5206\u6790\u8f85\u52a9\u5224\u65ad<\/p>\n
\u4f7f\u7528\u79fb\u52a8\u5e73\u5747\u7ebf\u3001RSI\u76f8\u5bf9\u5f3a\u5f31\u6307\u6570\u3001MACD\u7b49\u6280\u672f\u6307\u6807\u6765\u5206\u6790\u4ef7\u683c\u8d8b\u52bf\u548c\u6f5c\u5728\u7684\u53cd\u8f6c\u70b9\u3002\u5173\u952e\u652f\u6491\u4f4d\u548c\u963b\u529b\u4f4d\u7684\u7a81\u7834\u5f80\u5f80\u9884\u793a\u7740\u91cd\u8981\u8d8b\u52bf\u7684\u5f62\u6210\u3002<\/p>\n
\u7b2c\u56db\u6b65\uff1a\u5173\u6ce8\u76d1\u7ba1\u52a8\u6001<\/p>\n
\u5bc6\u5207\u5173\u6ce8\u7f8e\u56fdSEC\u3001CFTC\u7b49\u76d1\u7ba1\u673a\u6784\u7684\u653f\u7b56\u52a8\u5411\uff0c\u4ee5\u53ca\u5404\u56fd\u5bf9\u6bd4\u7279\u5e01\u7684\u5408\u6cd5\u5316\u8fdb\u7a0b\u3002\u79ef\u6781\u7684\u76d1\u7ba1\u6d88\u606f\u901a\u5e38\u5229\u597d\u6bd4\u7279\u5e01\uff0c\u8d1f\u9762\u6d88\u606f\u5219\u53ef\u80fd\u5bfc\u81f4\u629b\u552e\u3002<\/p>\n
\u7b2c\u4e94\u6b65\uff1a\u5206\u6563\u6295\u8d44\u4e0e\u98ce\u9669\u7ba1\u7406<\/p>\n
\u4e0d\u8981\u5c06\u6240\u6709\u8d44\u91d1\u6295\u5165\u6bd4\u7279\u5e01\uff0c\u5efa\u8bae\u914d\u7f6e\u6bd4\u4f8b\u63a7\u5236\u5728\u603b\u8d44\u4ea7\u76845%-15%\u3002\u8bbe\u7f6e\u5408\u7406\u7684\u6b62\u635f\u4f4d\uff0c\u907f\u514d\u8fc7\u5ea6\u6760\u6746\u64cd\u4f5c\u3002<\/p>\n
= \u6bd4\u7279\u5e01\u4e0e\u9ec4\u91d1\u3001\u7f8e\u5143\u6307\u6570\u7684\u5bf9\u6bd4\u5206\u6790 =<\/p>\n
\u4e0e\u9ec4\u91d1\u5bf9\u6bd4<\/p>\n
\u6bd4\u7279\u5e01\u5e38\u88ab\u79f0\u4e3a”\u6570\u5b57\u9ec4\u91d1”\uff0c\u4e24\u8005\u90fd\u5177\u6709\u6297\u901a\u80c0\u5c5e\u6027\u3002\u9ec4\u91d1\u6709\u7740\u6570\u5343\u5e74\u7684\u4eba\u7c7b\u4f7f\u7528\u5386\u53f2\uff0c\u6d41\u52a8\u6027\u66f4\u5f3a\uff1b\u6bd4\u7279\u5e01\u5219\u5177\u6709\u4fbf\u643a\u6027\u3001\u53ef\u5206\u5272\u6027\u548c\u900f\u660e\u6027\u7684\u4f18\u52bf\u3002\u4ece\u957f\u671f\u56de\u62a5\u6765\u770b\uff0c\u6bd4\u7279\u5e01\u7684\u6ce2\u52a8\u6027\u8fdc\u9ad8\u4e8e\u9ec4\u91d1\uff0c\u4f46\u6f5c\u5728\u6536\u76ca\u4e5f\u66f4\u5927\u3002<\/p>\n
\u4e0e\u7f8e\u5143\u6307\u6570\uff08DXY\uff09\u5bf9\u6bd4<\/p>\n
\u7f8e\u5143\u6307\u6570\u8861\u91cf\u7f8e\u5143\u76f8\u5bf9\u4e8e\u4e00\u7bee\u5b50\u8d27\u5e01\u7684\u5f3a\u5f31\u7a0b\u5ea6\u3002\u5f53\u7f8e\u5143\u6307\u6570\u4e0a\u6da8\u65f6\uff0c\u4ee5\u7f8e\u5143\u8ba1\u4ef7\u7684\u6bd4\u7279\u5e01\u5f80\u5f80\u627f\u538b\uff1b\u5f53\u7f8e\u5143\u8d70\u5f31\u65f6\uff0c\u6bd4\u7279\u5e01\u53ef\u80fd\u83b7\u5f97\u4e0a\u6da8\u52a8\u529b\u3002\u7136\u800c\uff0c\u8fd9\u79cd\u8d1f\u76f8\u5173\u6027\u5728\u77ed\u671f\u5185\u5bb9\u6613\u88ab\u5176\u4ed6\u56e0\u7d20\u63a9\u76d6\u3002<\/p>\n
\u4e0e\u4f20\u7edf\u8d44\u4ea7\u5bf9\u6bd4<\/p>\n
\u6bd4\u7279\u5e01\u4e0e\u4f20\u7edf\u80a1\u7968\u3001\u503a\u5238\u7684\u76f8\u5173\u6027\u76f8\u5bf9\u8f83\u4f4e\uff0c\u8fd9\u4f7f\u5176\u6210\u4e3a\u6295\u8d44\u7ec4\u5408\u5206\u6563\u5316\u7684\u6709\u6548\u5de5\u5177\u3002\u5728\u80a1\u5e02\u4e0b\u8dcc\u65f6\uff0c\u6bd4\u7279\u5e01\u6709\u65f6\u4f1a\u8868\u73b0\u51fa\u72ec\u7acb\u6027\uff0c\u751a\u81f3\u53ef\u80fd\u6210\u4e3a\u8d44\u91d1\u907f\u98ce\u6e2f\u3002<\/p>\n
= \u6bd4\u7279\u5e01\u5e02\u573a\u5173\u952e\u6570\u636e\u7edf\u8ba1 =<\/p>\n
\u6839\u636e\u884c\u4e1a\u6570\u636e\uff0c\u5168\u7403\u6bd4\u7279\u5e01\u6301\u6709\u5730\u5740\u6570\u5df2\u8d85\u8fc75000\u4e07\u4e2a\u5730\u5740\u3002\u6bd4\u7279\u5e01\u7684\u5e02\u503c\u5728\u5168\u7403\u52a0\u5bc6\u8d27\u5e01\u5e02\u573a\u4e2d\u5360\u6bd4\u7ea6\u4e3a45%-55%\uff0c\u662f\u5f53\u4e4b\u65e0\u6127\u7684\u52a0\u5bc6\u8d27\u5e01\u9f99\u5934\u3002<\/p>\n
\u4ece\u4ef7\u683c\u5386\u53f2\u6765\u770b\uff0c\u6bd4\u7279\u5e01\u7ecf\u5386\u4e86\u591a\u6b21\u725b\u718a\u5468\u671f\uff1a2017\u5e74\u8fbe\u5230\u8fd12\u4e07\u7f8e\u5143\u5386\u53f2\u9ad8\u70b9\uff0c2021\u5e74\u521b\u4e0b6.9\u4e07\u7f8e\u5143\u7684\u5cf0\u503c\uff0c2022\u5e74\u66fe\u8dcc\u78342\u4e07\u7f8e\u5143\u5173\u53e3\u3002\u8fd9\u4e9b\u5468\u671f\u6027\u7684\u5267\u70c8\u6ce2\u52a8\u53cd\u6620\u4e86\u65b0\u5174\u5e02\u573a\u7684\u6210\u719f\u8fc7\u7a0b\u3002<\/p>\n
\u673a\u6784\u53c2\u4e0e\u65b9\u9762\uff0c\u5df2\u6709\u8d85\u8fc720\u5bb6\u4e0a\u5e02\u516c\u53f8\u5c06\u6bd4\u7279\u5e01\u7eb3\u5165\u8d44\u4ea7\u8d1f\u503a\u8868\uff0c\u8d44\u4ea7\u7ba1\u7406\u89c4\u6a21\u8d85\u8fc7500\u4ebf\u7f8e\u5143\u7684\u6bd4\u7279\u5e01ETF\u5df2\u83b7\u6279\u4e0a\u5e02\u3002\u8fd9\u4e9b\u673a\u6784\u8d44\u91d1\u7684\u5165\u573a\u663e\u8457\u6539\u53d8\u4e86\u5e02\u573a\u7ed3\u6784\u3002<\/p>\n
\u4f9b\u5e94\u65b9\u9762\uff0c\u6bd4\u7279\u5e01\u603b\u91cf\u4e0a\u9650\u4e3a2100\u4e07\u679a\uff0c\u76ee\u524d\u6d41\u901a\u91cf\u7ea6\u4e3a1950\u4e07\u679a\u3002\u51cf\u534a\u4e8b\u4ef6\uff08\u7ea6\u6bcf4\u5e74\u4e00\u6b21\uff09\u6301\u7eed\u964d\u4f4e\u65b0\u6bd4\u7279\u5e01\u7684\u53d1\u884c\u901f\u5ea6\uff0c\u7406\u8bba\u4e0a\u5bf9\u957f\u671f\u4ef7\u683c\u5f62\u6210\u652f\u6491\u3002<\/p>\n
= \u5e38\u89c1\u95ee\u9898\u89e3\u7b54\uff08FAQ\uff09 =<\/p>\n
**\u95ee\uff1a\u6bd4\u7279\u5e01\u4ef7\u683c\u7531\u4ec0\u4e48\u51b3\u5b9a\uff1f**
\n\u7b54\uff1a\u6bd4\u7279\u5e01\u4ef7\u683c\u7531\u5e02\u573a\u4f9b\u9700\u5173\u7cfb\u51b3\u5b9a\uff0c\u5305\u62ec\u6316\u77ff\u6210\u672c\u3001\u6295\u8d44\u8005\u9700\u6c42\u3001\u673a\u6784\u914d\u7f6e\u3001\u76d1\u7ba1\u653f\u7b56\u3001\u5b8f\u89c2\u7ecf\u6d4e\u73af\u5883\u7b49\u591a\u91cd\u56e0\u7d20\u3002\u6ca1\u6709\u4e2d\u592e\u673a\u6784\u5b9a\u4ef7\uff0c\u4ef7\u683c\u7531\u5168\u7403\u4ea4\u6613\u6240\u7684\u4e70\u5356\u4ea4\u6613\u5f62\u6210\u3002<\/p>\n
**\u95ee\uff1a\u7f8e\u5143\u8d70\u5f3a\u65f6\u5e94\u8be5\u6301\u6709\u6bd4\u7279\u5e01\u5417\uff1f**
\n\u7b54\uff1a\u867d\u7136\u7406\u8bba\u4e0a\u7f8e\u5143\u8d70\u5f3a\u53ef\u80fd\u538b\u5236\u6bd4\u7279\u5e01\u4ef7\u683c\uff0c\u4f46\u5e02\u573a\u5f80\u5f80\u53d7\u591a\u79cd\u56e0\u7d20\u5f71\u54cd\u3002\u5efa\u8bae\u6839\u636e\u4e2a\u4eba\u98ce\u9669\u627f\u53d7\u80fd\u529b\u548c\u6295\u8d44\u7b56\u7565\u51b3\u5b9a\uff0c\u4e0d\u5fc5\u8fc7\u4e8e\u5173\u6ce8\u5355\u4e00\u6307\u6807\u3002<\/p>\n
**\u95ee\uff1a\u5982\u4f55\u5f00\u59cb\u6295\u8d44\u6bd4\u7279\u5e01\uff1f**
\n\u7b54\uff1a\u9009\u62e9\u53d7\u76d1\u7ba1\u7684\u52a0\u5bc6\u8d27\u5e01\u4ea4\u6613\u6240\uff0c\u5b8c\u6210\u8eab\u4efd\u9a8c\u8bc1\u540e\u5373\u53ef\u5165\u573a\u3002\u5efa\u8bae\u5148\u4e86\u89e3\u57fa\u672c\u77e5\u8bc6\uff0c\u4ece\u5c0f\u989d\u5f00\u59cb\uff0c\u9010\u6b65\u79ef\u7d2f\u7ecf\u9a8c\u3002<\/p>\n
**\u95ee\uff1a\u6bd4\u7279\u5e01\u662f\u53ef\u9760\u7684\u957f\u671f\u6295\u8d44\u5417\uff1f**
\n\u7b54\uff1a\u6bd4\u7279\u5e01\u4f5c\u4e3a\u65b0\u5174\u8d44\u4ea7\u7c7b\u522b\uff0c\u6ce2\u52a8\u6027\u8f83\u9ad8\u3002\u4ece\u5386\u53f2\u957f\u671f\u8d8b\u52bf\u770b\uff0c\u6bd4\u7279\u5e01\u8868\u73b0\u51fa\u8272\uff0c\u4f46\u8fc7\u53bb\u7684 performance \u4e0d\u4ee3\u8868\u672a\u6765\u56de\u62a5\u3002\u6295\u8d44\u8005\u5e94\u5145\u5206\u4e86\u89e3\u98ce\u9669\u3002<\/p>\n
**\u95ee\uff1a\u6bd4\u7279\u5e01\u4e0e\u7f8e\u5143\u54ea\u4e2a\u66f4\u5b89\u5168\uff1f**
\n\u7b54\uff1a\u7f8e\u5143\u7531\u653f\u5e9c\u4fe1\u7528\u80cc\u4e66\uff0c\u5177\u6709\u6cd5\u5b9a\u8d27\u5e01\u5730\u4f4d\uff1b\u6bd4\u7279\u5e01\u57fa\u4e8e\u53bb\u4e2d\u5fc3\u5316\u7f51\u7edc\uff0c\u5177\u6709\u6297\u901a\u80c0\u5c5e\u6027\u3002\u4e24\u8005\u98ce\u9669\u7279\u5f81\u4e0d\u540c\uff0c\u6ca1\u6709\u7edd\u5bf9\u7684”\u66f4\u5b89\u5168”\u3002<\/p>\n
= \u5b9e\u6218\u6295\u8d44\u7ecf\u9a8c\u5206\u4eab =<\/p>\n
\u5728\u591a\u5e74\u89c2\u5bdf\u6bd4\u7279\u5e01\u5e02\u573a\u7684\u8fc7\u7a0b\u4e2d\uff0c\u6211\u603b\u7ed3\u51fa\u51e0\u6761\u5173\u952e\u7ecf\u9a8c\u3002\u9996\u5148\uff0c\u4e0d\u8981\u8bd5\u56fe\u9884\u6d4b\u77ed\u671f\u4ef7\u683c\u8d70\u52bf\uff0c\u5e02\u573a\u60c5\u7eea\u53d8\u5316\u6781\u5feb\uff0c\u51c6\u786e\u9884\u6d4b\u51e0\u4e4e\u4e0d\u53ef\u80fd\u3002\u5176\u6b21\uff0c\u957f\u671f\u6301\u6709\uff08HODL\uff09\u7b56\u7565\u5728\u5386\u53f2\u4e0a\u88ab\u8bc1\u660e\u662f\u6709\u6548\u7684\uff0c\u4f46\u9700\u8981\u627f\u53d7\u5de8\u5927\u7684\u77ed\u671f\u6ce2\u52a8\u3002\u7b2c\u4e09\uff0c\u5206\u6279\u5efa\u4ed3\u6bd4\u4e00\u6b21\u6027\u6295\u5165\u66f4\u660e\u667a\uff0c\u53ef\u4ee5\u5e73\u6ed1\u6210\u672c\u3002\u7b2c\u56db\uff0c\u6c38\u8fdc\u4e0d\u8981\u6295\u5165\u8d85\u8fc7\u627f\u53d7\u80fd\u529b\u7684\u8d44\u91d1\uff0c\u52a0\u5bc6\u8d27\u5e01\u5e02\u573a24\u5c0f\u65f6\u4ea4\u6613\uff0c\u6ce2\u52a8\u53ef\u80fd\u8d85\u51fa\u60f3\u8c61\u3002<\/p>\n
\u5b9e\u9645\u64cd\u4f5c\u4e2d\uff0c\u6211\u5efa\u8bae\u4f7f\u7528\u5b9a\u6295\u7b56\u7565\uff0c\u6bcf\u6708\u56fa\u5b9a\u65e5\u671f\u6295\u5165\u76f8\u540c\u91d1\u989d\u8d2d\u4e70\u6bd4\u7279\u5e01\u3002\u8fd9\u79cd\u65b9\u6cd5\u4e0d\u9700\u8981\u5224\u65ad\u5165\u573a\u65f6\u673a\uff0c\u957f\u671f\u6765\u770b\u80fd\u83b7\u5f97\u5e02\u573a\u5e73\u5747\u6536\u76ca\u3002\u540c\u65f6\uff0c\u52a1\u5fc5\u4f7f\u7528\u786c\u4ef6\u94b1\u5305\u5b58\u50a8\u5927\u989d\u8d44\u4ea7\uff0c\u4e0d\u8981\u5c06\u5927\u91cf\u6bd4\u7279\u5e01\u7559\u5728\u4ea4\u6613\u6240\u3002<\/p>\n
= \u4e13\u4e1a\u89d2\u5ea6\u5206\u6790 =<\/p>\n
\u4ece\u91d1\u878d\u5b66\u89d2\u5ea6\u5206\u6790\uff0c\u6bd4\u7279\u5e01\u4ee3\u8868\u4e86\u8d27\u5e01\u5f62\u6001\u6f14\u8fdb\u7684\u91cd\u5927\u521b\u65b0\u3002\u4f20\u7edf\u8d27\u5e01\u7406\u8bba\u4e2d\uff0c\u8d27\u5e01\u5177\u6709\u4ef7\u503c\u5c3a\u5ea6\u3001\u6d41\u901a\u624b\u6bb5\u3001\u8d2e\u85cf\u624b\u6bb5\u4e09\u5927\u804c\u80fd\u3002\u6bd4\u7279\u5e01\u5728\u6d41\u901a\u548c\u8d2e\u85cf\u65b9\u9762\u5c55\u73b0\u51fa\u72ec\u7279\u4f18\u52bf\uff0c\u4f46\u5728\u4ef7\u503c\u5c3a\u5ea6\u65b9\u9762\u4ecd\u9762\u4e34\u6ce2\u52a8\u6027\u8fc7\u5927\u7684\u6311\u6218\u3002<\/p>\n
\u673a\u6784\u6295\u8d44\u8005\u5c06\u6bd4\u7279\u5e01\u7eb3\u5165\u8d44\u4ea7\u914d\u7f6e\u65f6\uff0c\u4e3b\u8981\u8003\u91cf\u5176\u4e0e\u4f20\u7edf\u8d44\u4ea7\u7684\u4f4e\u76f8\u5173\u6027\u3002Modern Portfolio Theory\uff08MPT\uff09\u6846\u67b6\u4e0b\uff0c\u5f15\u5165\u6bd4\u7279\u5e01\u53ef\u4ee5\u6539\u5584\u6295\u8d44\u7ec4\u5408\u7684\u98ce\u9669\u8c03\u6574\u540e\u6536\u76ca\u3002\u7136\u800c\uff0c\u6bd4\u7279\u5e01\u7684\u9ad8\u6ce2\u52a8\u6027\u4e5f\u610f\u5473\u7740\u7ec4\u5408\u7684\u6574\u4f53\u98ce\u9669\u53ef\u80fd\u4e0a\u5347\u3002<\/p>\n
\u4ece\u8d27\u5e01\u653f\u7b56\u89d2\u5ea6\uff0c\u6bd4\u7279\u5e01\u7684\u56fa\u5b9a\u4f9b\u5e94\u91cf\uff082100\u4e07\u679a\uff09\u4f7f\u5176\u5177\u6709\u5185\u5728\u7684”\u901a\u7f29”\u5c5e\u6027\uff0c\u8fd9\u4e0e\u73b0\u4ee3\u592e\u884c\u666e\u904d\u91c7\u7528\u7684\u901a\u80c0\u76ee\u6807\u5236\u5f62\u6210\u9c9c\u660e\u5bf9\u6bd4\u3002\u8fd9\u79cd\u8bbe\u8ba1\u4f7f\u5f97\u6bd4\u7279\u5e01\u5728\u8d27\u5e01\u8d85\u53d1\u65f6\u4ee3\u5177\u6709\u72ec\u7279\u7684\u4ef7\u503c\u5b58\u50a8\u5438\u5f15\u529b\u3002<\/p>\n
= \u6743\u5a01\u6765\u6e90\u5f15\u7528 =<\/p>\n
\u6839\u636e\u7f8e\u56fd\u8bc1\u5238\u4ea4\u6613\u59d4\u5458\u4f1a\uff08SEC\uff09\u7684\u5b98\u65b9\u6587\u4ef6\uff0c\u6bd4\u7279\u5e01\u88ab\u8ba4\u5b9a\u4e3a\u5546\u54c1\uff08Commodity\uff09\uff0c\u800c\u975e\u8bc1\u5238\u3002\u8fd9\u4e00\u8ba4\u5b9a\u5bf9\u52a0\u5bc6\u8d27\u5e01\u76d1\u7ba1\u6846\u67b6\u5177\u6709\u91cd\u8981\u610f\u4e49\u3002<\/p>\n
\u56fd\u9645\u8d27\u5e01\u57fa\u91d1\u7ec4\u7ec7\uff08IMF\uff09\u5728\u5176\u300a\u5168\u7403\u91d1\u878d\u7a33\u5b9a\u62a5\u544a\u300b\u4e2d\u6307\u51fa\uff0c\u52a0\u5bc6\u8d44\u4ea7\u7684\u5feb\u901f\u53d1\u5c55\u53ef\u80fd\u5bf9\u4f20\u7edf\u91d1\u878d\u4f53\u7cfb\u4ea7\u751f\u5f71\u54cd\uff0c\u4f46\u76ee\u524d\u89c4\u6a21\u5c1a\u4e0d\u8db3\u4ee5\u6784\u6210\u7cfb\u7edf\u6027\u98ce\u9669\u3002<\/p>\n
\u7f8e\u8054\u50a8\uff08Federal Reserve\uff09\u7684\u7814\u7a76\u62a5\u544a\u5206\u6790\u4e86\u6bd4\u7279\u5e01\u4e0e\u9ec4\u91d1\u3001\u6cd5\u5b9a\u8d27\u5e01\u7684\u5173\u7cfb\uff0c\u6307\u51fa\u6bd4\u7279\u5e01\u4f5c\u4e3a\u4e00\u79cd”\u66ff\u4ee3\u6027\u4ef7\u503c\u5b58\u50a8\u5de5\u5177”\u6b63\u5728\u83b7\u5f97\u5e02\u573a\u8ba4\u53ef\u3002<\/p>\n
\u5f6d\u535a\u793e\uff08Bloomberg\uff09\u7efc\u5408\u5206\u6790\u5e08\u89c2\u70b9\u8ba4\u4e3a\uff0c\u6bd4\u7279\u5e01\u4e0e\u4f20\u7edf\u8d44\u4ea7\u7684\u76f8\u5173\u6027\u6b63\u5728\u589e\u5f3a\uff0c\u5176”\u6570\u5b57\u9ec4\u91d1”\u5c5e\u6027\u65e5\u76ca\u660e\u663e\u3002<\/p>\n
= \u53ef\u4fe1\u5ea6\u4e0e\u53ef\u9760\u6027\u8bf4\u660e =<\/p>\n
\u672c\u6587\u63d0\u4f9b\u7684\u4fe1\u606f\u57fa\u4e8e\u516c\u5f00\u5e02\u573a\u6570\u636e\u548c\u6743\u5a01\u673a\u6784\u7814\u7a76\u62a5\u544a\u3002\u52a0\u5bc6\u8d27\u5e01\u6295\u8d44\u6d89\u53ca\u9ad8\u98ce\u9669\uff0c\u5e02\u573a\u6ce2\u52a8\u5267\u70c8\uff0c\u6295\u8d44\u8005\u5e94\u5728\u5145\u5206\u4e86\u89e3\u98ce\u9669\u7684\u57fa\u7840\u4e0a\u505a\u51fa\u51b3\u7b56\u3002\u672c\u6587\u7684\u5206\u6790\u548c\u89c2\u70b9\u4ec5\u4f9b\u53c2\u8003\uff0c\u4e0d\u6784\u6210\u4efb\u4f55\u6295\u8d44\u5efa\u8bae\u3002<\/p>\n
\u6295\u8d44\u51b3\u7b56\u5e94\u57fa\u4e8e\u4e2a\u4eba\u8d22\u52a1\u72b6\u51b5\u3001\u98ce\u9669\u627f\u53d7\u80fd\u529b\u548c\u6295\u8d44\u76ee\u6807\u3002\u5efa\u8bae\u6295\u8d44\u8005\u5728\u505a\u51fa\u4efb\u4f55\u6295\u8d44\u51b3\u5b9a\u524d\uff0c\u54a8\u8be2\u6301\u724c\u7684\u91d1\u878d\u987e\u95ee\u3002\u52a0\u5bc6\u8d27\u5e01\u5e02\u573a24\u5c0f\u65f6\u8fd0\u4f5c\uff0c\u4ef7\u683c\u53ef\u80fd\u5728\u77ed\u65f6\u95f4\u5185\u5267\u70c8\u6ce2\u52a8\uff0c\u6295\u8d44\u8005\u5e94\u505a\u597d\u98ce\u9669\u7ba1\u7406\u3002<\/p>\n
= \u539f\u521b\u89c2\u70b9\u4e0e\u6df1\u5ea6\u89c1\u89e3 =<\/p>\n
\u6211\u8ba4\u4e3a\uff0c\u6bd4\u7279\u5e01\u4e0e\u7f8e\u5143\u7684\u5173\u7cfb\u6b63\u5728\u53d1\u751f\u7ed3\u6784\u6027\u53d8\u5316\u3002\u968f\u7740\u673a\u6784\u6295\u8d44\u8005\u7684\u5927\u89c4\u6a21\u5165\u573a\u548c\u6bd4\u7279\u5e01ETF\u7684\u6279\u51c6\uff0c\u6bd4\u7279\u5e01\u6b63\u5728\u4ece\u4e00\u4e2a\u5c0f\u4f17\u6295\u673a\u54c1\u79cd\u8f6c\u53d8\u4e3a\u6210\u719f\u7684\u8d44\u4ea7\u7c7b\u522b\u3002\u8fd9\u79cd\u8f6c\u53d8\u610f\u5473\u7740\u6bd4\u7279\u5e01\u4e0e\u7f8e\u5143\u7684\u5173\u7cfb\u5c06\u66f4\u52a0\u590d\u6742\uff0c\u4e0d\u518d\u662f\u7b80\u5355\u7684\u8d1f\u76f8\u5173\u3002<\/p>\n
\u672a\u6765\uff0c\u6211\u9884\u8ba1\u6bd4\u7279\u5e01\u5c06\u9010\u6b65\u4e0e\u79d1\u6280\u80a1\u3001\u503a\u5238\u7b49\u8d44\u4ea7\u7c7b\u522b\u5efa\u7acb\u66f4\u7d27\u5bc6\u7684\u8054\u7cfb\u3002\u7f8e\u5143\u5229\u7387\u73af\u5883\u3001\u5168\u7403\u6d41\u52a8\u6027\u72b6\u51b5\u5c06\u6210\u4e3a\u5f71\u54cd\u6bd4\u7279\u5e01\u4ef7\u683c\u7684\u6838\u5fc3\u56e0\u7d20\u3002\u5bf9\u4e8e\u957f\u671f\u6295\u8d44\u8005\u800c\u8a00\uff0c\u7406\u89e3\u8fd9\u4e9b\u5b8f\u89c2\u903b\u8f91\u6bd4\u5173\u6ce8\u77ed\u671f\u4ef7\u683c\u6ce2\u52a8\u66f4\u4e3a\u91cd\u8981\u3002<\/p>\n
\u53e6\u4e00\u4e2a\u503c\u5f97\u5173\u6ce8\u7684\u8d8b\u52bf\u662f\u6bd4\u7279\u5e01\u5728\u65b0\u5174\u5e02\u573a\u7684\u53d1\u5c55\u3002\u7531\u4e8e\u672c\u56fd\u8d27\u5e01\u6c47\u7387\u4e0d\u7a33\u5b9a\uff0c\u4e00\u4e9b\u65b0\u5174\u5e02\u573a\u56fd\u5bb6\u7684\u4eba\u6c11\u5c06\u6bd4\u7279\u5e01\u89c6\u4e3a\u5bf9\u51b2\u8d27\u5e01\u8d2c\u503c\u7684\u5de5\u5177\u3002\u8fd9\u79cd\u9700\u6c42\u7ed3\u6784\u7684\u53d8\u5316\u53ef\u80fd\u6539\u53d8\u6bd4\u7279\u5e01\u4e0e\u7f8e\u5143\u7684\u4f20\u7edf\u5173\u7cfb\u6846\u67b6\u3002<\/p>\n
= \u603b\u7ed3 =<\/p>\n
\u6bd4\u7279\u5e01\u4e0e\u7f8e\u5143\u7684\u5173\u7cfb\u662f\u7406\u89e3\u52a0\u5bc6\u8d27\u5e01\u5e02\u573a\u7684\u6838\u5fc3\u3002\u4ece\u4f9b\u9700\u57fa\u672c\u9762\u5230\u5b8f\u89c2\u7ecf\u6d4e\u73af\u5883\uff0c\u4ece\u6280\u672f\u5206\u6790\u5230\u673a\u6784\u884c\u4e3a\uff0c\u591a\u91cd\u56e0\u7d20\u5171\u540c\u5851\u9020\u4e86BTC\/USD\u6c47\u7387\u7684\u8d70\u52bf\u3002\u6295\u8d44\u8005\u5e94\u5f53\u5efa\u7acb\u7cfb\u7edf\u6027\u7684\u5206\u6790\u6846\u67b6\uff0c\u907f\u514d\u88ab\u77ed\u671f\u6ce2\u52a8\u8bef\u5bfc\u3002<\/p>\n
\u8bb0\u4f4f\uff0c\u6295\u8d44\u52a0\u5bc6\u8d27\u5e01\u5e94\u79c9\u6301\u7406\u6027\u6001\u5ea6\uff0c\u505a\u597d\u5145\u5206\u7684\u98ce\u9669\u7ba1\u7406\u3002\u65e0\u8bba\u662f\u6bd4\u7279\u5e01\u8fd8\u662f\u5176\u4ed6\u6570\u5b57\u8d44\u4ea7\uff0c\u90fd\u5e94\u4f5c\u4e3a\u6574\u4f53\u6295\u8d44\u7ec4\u5408\u7684\u4e00\u90e8\u5206\uff0c\u800c\u975e\u5168\u90e8\u3002\u6301\u7eed\u5b66\u4e60\u3001\u4fdd\u6301\u8010\u5fc3\u3001\u4e25\u5b88\u7eaa\u5f8b\uff0c\u8fd9\u662f\u5728\u52a0\u5bc6\u8d27\u5e01\u5e02\u573a\u4e2d\u957f\u671f\u751f\u5b58\u7684\u5173\u952e\u3002<\/p>\n","protected":false},"excerpt":{"rendered":"
= \u5f00\u5934\u6458\u8981 = \u60f3\u77e5\u9053\u6bd4\u7279\u5e01\u4e0e\u7f8e\u5143\u4e4b\u95f4\u7a76\u7adf\u5b58\u5728\u600e\u6837\u7684\u5173\u8054\uff1f…<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"class_list":["post-989","post","type-post","status-publish","format-standard","hentry","category-uncategorized"],"_links":{"self":[{"href":"https:\/\/kj17.com\/zh_cn\/wp-json\/wp\/v2\/posts\/989","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/kj17.com\/zh_cn\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/kj17.com\/zh_cn\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/kj17.com\/zh_cn\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/kj17.com\/zh_cn\/wp-json\/wp\/v2\/comments?post=989"}],"version-history":[{"count":0,"href":"https:\/\/kj17.com\/zh_cn\/wp-json\/wp\/v2\/posts\/989\/revisions"}],"wp:attachment":[{"href":"https:\/\/kj17.com\/zh_cn\/wp-json\/wp\/v2\/media?parent=989"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/kj17.com\/zh_cn\/wp-json\/wp\/v2\/categories?post=989"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/kj17.com\/zh_cn\/wp-json\/wp\/v2\/tags?post=989"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}