{"id":82550,"date":"2022-07-03T00:10:00","date_gmt":"2022-07-03T00:10:00","guid":{"rendered":"https:\/\/cn.cryptonews.com\/?p=82550"},"modified":"2023-06-26T11:26:45","modified_gmt":"2023-06-26T11:26:45","slug":"jin-nian-xia-tian-ke-neng-hui-kan-dao-geng-duo-jia-mi-huo-bi-de-beng-pan-dan-zui-zao-de-shi-ke-yi-jing-guo-qu-le-pantera-capital-shou-xi-zhi-xing-zhang-biao-shi","status":"publish","type":"post","link":"https:\/\/cryptonews.com\/cn\/news\/jin-nian-xia-tian-ke-neng-hui-kan-dao-geng-duo-jia-mi-huo-bi-de-beng-pan-dan-zui-zao-de-shi-ke-yi-jing-guo-qu-le-pantera-capital-shou-xi-zhi-xing-zhang-biao-shi\/","title":{"rendered":"\u4eca\u5e74\u590f\u5929\u53ef\u80fd\u4f1a\u770b\u5230\u66f4\u591a\u52a0\u5bc6\u8d27\u5e01\u7684\u5d29\u76d8\uff0c\u4f46\u6700\u7cdf\u7684\u65f6\u523b\u5df2\u7ecf\u8fc7\u53bb\u4e86\u2014 Pantera Capital \u9996\u5e2d\u6267\u884c\u957f\u8868\u793a"},"content":{"rendered":"
\"\"
来源：AdobeStock \/ Warakorn<\/figcaption><\/figure>

Pantera Capital 首席执行长 Dan Morehead 认为，加密货币市场可能会出现“多几个”的崩盘案例，它们会类似于 Terra (LUNA) 生态系统和加密对冲基金 Three Arrows Capital 所发生的情况。然而，据他所言，当前金融危机所产生的大部分蔓延效应已经被计算到市场价格当中了。<\/strong><\/p>

Morehead 在周三的最新通讯中写道，尽管已经看到 Terra、Three Arrows Capital 和 Celcius (CEL) 的三大加密货币“崩盘”，但“未来一两个月内可能还会出现更多”。 ”<\/strong><\/p>

Morehead 警告说，这些崩盘和破产中的每一个案例都不是孤立事件，但他表示它们给其交易对手留下了“一系列的问题”，正如最近在 Three Arrows Capital 案例中所看到的那样。<\/strong><\/p>

然而，积极的一面是，Morehead 提醒读者，加密货币市场是“非常有效率的”。<\/strong><\/p>

“随着一个 70-90% 的市场下降趋势，我们可能已经解决了大部分问题。我们认为这些事件大多已在加密货币空间中产生了快速淘汰的效应，”他写道。<\/strong><\/p><\/blockquote>

在时事通讯中，Morehead 还承认，他的基金 — 通常主要关注替代币 (altcoins) — 现在已经进行了“更大的比特币投资分配以降低市场下行的风险”。<\/strong><\/p>

Morehead 解释说，在加密货币的熊市期间，替代币的表现通常低于比特币，并补充说这次也是如此。他接着说，“一旦市场出现非常明显地触底”，将会是退出比特币并重新投入替代币的时间点。<\/strong><\/p>

同样在时事通讯中，Pantera 的联合首席投资主管 Joey Krug 表示，加密货币领域的估值已经出现分化，代币估值较低，但加密货币新创企业的股权估值则较高。<\/strong><\/p>

由于估值存在如此的差异，Krug 表示，Pantera 已将更多的资金投入到代币销售的种子回合融资中，而较少投入到传统的风险投资交易中。<\/strong><\/p>

“这是我们认为目前最有价值的领域，” Krug 谈到基于加密代币的融资回合时说。<\/strong><\/p><\/blockquote>

在评论比特币与其他风险资产，尤其是与股票之间的相关性时，Morehead 指出，在这个熊市期间，风险资产的“相关性飙升”已持续了比过去更长的时间。<\/strong><\/p>

因此，他说他预计比特币与标准普尔 500 股票指数之间的相关性将“在短期内回落”，同时补充说“确实没有理由认为比特币需要成为与风险资产相关的东西。”<\/strong><\/p>

值得注意的是，这不是Morehead 第一次预测股票和比特币之间的脱钩。早在今年 2 月，Morehead 和 Krug 还预测，即使面对更高的利率，比特币也会与传统的宏观资产“脱钩”。<\/strong><\/p>

然而，正如 5 月份报导的那样，该预测迄今为止一直是错误的。<\/strong><\/p>","protected":false},"excerpt":{"rendered":"

来源：AdobeStock \/ WarakornPantera Capital 首席执行长 Dan Morehead 认为，加密货币市场可能会出现“多几个”的崩盘案例，它们会类似于 Terra (LUNA) 生态系统和加密对冲基金 Three Arrows Capital 所发生的情况。然而，据他所言，当前金融危机所产生的大部分蔓延效应已经被计算到市场价格当中了。Morehead 在周三的最新通讯中写道，尽管已经看到 Terra、Three Arrows Capital 和 Celcius (CEL) 的三大加密货币“崩盘”，但“未来一两个月内可能还会出现更多”。 ”Morehead 警告说，这些崩盘和破产中的每一个案例都不是孤立事件，但他表示它们给其交易对手留下了“一系列的问题”，正如最近在 Three Arrows Capital 案例中所看到的那样。然而，积极的一面是，Morehead 提醒读者，加密货币市场是“非常有效率的”。 “随着一个 70-90% 的市场下降趋势，我们可能已经解决了大部分问题。我们认为这些事件大多已在加密货币空间中产生了快速淘汰的效应，”他写道。 在时事通讯中，Morehead 还承认，他的基金 — 通常主要关注替代币 (altcoins) — 现在已经进行了“更大的比特币投资分配以降低市场下行的风险”。Morehead 解释说，在加密货币的熊市期间，替代币的表现通常低于比特币，并补充说这次也是如此。他接着说，“一旦市场出现非常明显地触底”，将会是退出比特币并重新投入替代币的时间点。同样在时事通讯中，Pantera 的联合首席投资主管 Joey Krug 表示，加密货币领域的估值已经出现分化，代币估值较低，但加密货币新创企业的股权估值则较高。由于估值存在如此的差异，Krug 表示，Pantera 已将更多的资金投入到代币销售的种子回合融资中，而较少投入到传统的风险投资交易中。 “这是我们认为目前最有价值的领域，” Krug 谈到基于加密代币的融资回合时说。 在评论比特币与其他风险资产，尤其是与股票之间的相关性时，Morehead 指出，在这个熊市期间，风险资产的“相关性飙升”已持续了比过去更长的时间。因此，他说他预计比特币与标准普尔 500 股票指数之间的相关性将“在短期内回落”，同时补充说“确实没有理由认为比特币需要成为与风险资产相关的东西。”值得注意的是，这不是Morehead 第一次预测股票和比特币之间的脱钩。早在今年 […]<\/p>\n","protected":false},"author":47,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[1,6],"tags":[],"editors":[],"sponsored_companies":[],"class_list":["post-82550","post","type-post","status-publish","format-standard","hentry","category-news","category-bitcoin-news"],"acf":[],"yoast_head":"\n\u4eca\u5e74\u590f\u5929\u53ef\u80fd\u4f1a\u770b\u5230\u66f4\u591a\u52a0\u5bc6\u8d27\u5e01\u7684\u5d29\u76d8\uff0c\u4f46\u6700\u7cdf\u7684\u65f6\u523b\u5df2\u7ecf\u8fc7\u53bb\u4e86\u2014 Pantera Capital \u9996\u5e2d\u6267\u884c\u957f\u8868\u793a<\/title>\n<meta name=\"description\" content=\"来源：AdobeStock \/ WarakornPantera Capital 首席执行长 Dan Morehead\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" 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