{"version":"1.0","provider_name":"Fortune Insight","provider_url":"https:\/\/prime.fortuneinsight.com\/web","author_name":"\u9322\u741b","author_url":"https:\/\/prime.fortuneinsight.com\/web\/posts\/author\/chinshun","title":"\u300a\u8a08\u91cf\u5206\u6790\u300b\u8cb7\u5e63\u7684Quantamental Analysis - Fortune Insight","type":"rich","width":600,"height":338,"html":"<blockquote class=\"wp-embedded-content\"><a href=\"https:\/\/prime.fortuneinsight.com\/web\/posts\/591241\">\u300a\u8a08\u91cf\u5206\u6790\u300b\u8cb7\u5e63\u7684Quantamental Analysis<\/a><\/blockquote>\n<script type='text\/javascript'>\n<!--\/\/--><![CDATA[\/\/><!--\n\t\t!function(c,d){\"use strict\";var e=!1,n=!1;if(d.querySelector)if(c.addEventListener)e=!0;if(c.wp=c.wp||{},!c.wp.receiveEmbedMessage)if(c.wp.receiveEmbedMessage=function(e){var t=e.data;if(t)if(t.secret||t.message||t.value)if(!\/[^a-zA-Z0-9]\/.test(t.secret)){for(var 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\u5e63\u5e02quantamental\u7b56\u7565\u7684\u6838\u5fc3\uff0c\u5c31\u662f\u6578\u64da\u4f86\u6e90\uff0c\u5373\u8fd1\u5e74\u5192\u8d77\u5f97\u6975\u5feb\u7684\u93c8\u4e0a\u6578\u64da\uff08on chain data\uff09\u3002\u9867\u540d\u601d\u7fa9\uff0c\u9019\u7a2e\u6578\u64da\u5c31\u662f\u5340\u584a\u93c8\u4e0a\u7684\u6578\u64da\u3002\u7531\u65bc\u7d55\u5927\u90e8\u4efd\u5340\u584a\u93c8\u90fd\u662f\u958b\u6e90\uff08open sourced\uff09\uff0c\u8981\u514d\u8cbb\u7372\u53d6\u9019\u985e\u6578\u64da\u7d55\u5c0d\u53ef\u884c\uff0c\u53ea\u662f\u9700\u8981\u8f03\u9ad8\u7684\u7de8\u7a0b\u80fd\u529b\uff0cprogrammatically\u6536\u96c6\u6578\u64da\u3002\u6240\u4ee5\uff0c\u7528\u4f86\u7092\u5e63\u7684\u6578\u64da\u672c\u8eab\u5df2\u7d93\u6709\u53bb\u4e2d\u5fc3\u5316\u7684\u7279\u6027\uff1b\u6bd4\u8d77\u50b3\u7d71\u8cc7\u7522\uff0c\u6211\u5011\u53ea\u80fd\u5f9e\u5169\u5927\/\u4e00\u5927\u6578\u64da\u5546\uff08Bloomberg\/Reuters\uff09\u53d6\u5f97\u76f8\u95dc\u7684non price data\uff0c\u57fa\u65bc\u58df\u65b7\u4e0b\u7684\u50f9\u9322\u4e0d\u83f2\uff0c\u6563\u6236\u96e3\u4ee5\u7528\u975eweb scraping\u65b9\u6cd5\u7372\u5f97\u6578\u64da\u3002 \u6c92\u6709\u7de8\u7a0b\u6839\u57fa\u7684\u4f60\uff0c\u4e0d\u9700\u8981\u5bb3\u6015\u96e3\u4ee5\u7372\u53d6on chain data\uff0c\u56e0\u7232\u53ef\u4ee5\u900f\u904e\u4e00\u4e9b\u50f9\u683c\u4fbf\u5b9c\u7684\u6578\u64da\u5546\uff08\u5982Glassnode\uff09\uff0c\u7372\u5f97\u88ab\u5b8c\u6574\u8655\u7406\u904e\u7684on chain data\u3002 \u7531\u65bcon chain data\u7a2e\u985e\u7e41\u591a\uff0c\u4e5f\u5c0d\u5404\u7a2e\u52a0\u5bc6\u8ca8\u5e63\u4ea4\u6613\u7b56\u7565\u6975\u70ba\u91cd\u8981\uff0c\u6253\u7b97\u5beb\u4e00\u500bseries\u7684\u5c08\u6b04\uff0c\u4ecb\u7d39\u5982\u4f55\u61c9\u7528\u9019\u985e\u6578\u64da\u3002 \u90a3\u9ebd\uff0c\u5148\u7531on chain data\u7684\u6846\u67b6\u958b\u59cb\u8aaa\u8d77\u3002 \u6839\u64da\u4e00\u500b\u5e63\u5e02\u91cf\u5316\u6307\u6a19\u7684\u5275\u8fa6\u4ebaDavid Puell\u53caARK Investment\u7684\u4e00\u7bc7\u6587\u7ae0\uff08https:\/\/ark-invest.com\/articles\/analyst-research\/on-chain-data-bitcoin\/\uff09\uff0con chain data\u7684\u6846\u67b6\u6709\u4e09\u5c64\uff0c\u6700\u4f4e\u5c64\u662f\u6700raw\u3001\u7528\u4f86\u5be9\u8996\u5340\u584a\u93c8\u662f\u5426\u5065\u5eb7\u7684\u7684on chain data\uff0c\u4f8b\u5982\u5e63\u7684issuance\u3001hash rate\u3001velocity\u7b49\u7b49\uff1b\u7b2c\u4e8c\u5c64\u5247\u662f\u4e00\u4e9b\u5be9\u8996\u5e02\u5834\u60c5\u7dd2\u7684\u6307\u6a19\uff0c\u4f8b\u5982\u4e0d\u540c\u4ea4\u6613\u6240\u7684\u8cc7\u91d1\u6d41\uff1b\u7b2c\u4e09\u5c64\u5247\u662f\u6700\u8907\u96dc\u7684\u91cf\u5316\u6307\u6a19\uff0c\u7531\u7b2c\u4e00\u53ca\/\u6216\u7b2c\u4e8c\u5c64\u7684\u6578\u64da\u7d44\u5408\u800c\u6210\uff0c\u64c1\u6709\u66f4\u6709\u6307\u6a19\u6027\u7684\u555f\u793a\u3002\u4e0b\u9762\u6bcf\u5c64\u8209\u4f8b\u8aaa\u660e\u3002 \u7b2c\u4e00\u5c64\u6700\u7c21\u55ae\uff0c\u57fa\u672c\u4e0aGoogle\u6578\u64da\u7684\u5b9a\u7fa9\u5373\u53ef\uff0c\u9078\u4e00\u500b\u8f03\u6709\u7d93\u6fdf\u5b78context\u7684\u4f8b\u5b50\u4f86\u8aaa\u5427\u3002\u91cf\u5ea6\u4e00\u500b\u7d93\u6fdf\u9ad4\u7684\u8ca8\u5e63\u60c5\u6cc1\uff0c\u6703\u4f7f\u7528velocity\u7684\u6982\u5ff5\uff0c\u610f\u601d\u662f\u8ca8\u5e63\u7684\u904b\u7528\u7a0b\u5ea6\u3002\u540c\u7406\uff0c\u5e63\u5e02\u4e5f\u6709velocity\u7684\u6982\u5ff5\uff0c\u8a08\u7b97\u65b9\u6cd5\u70ba\u6210\u4ea4\u91cf\u9664\u4ee5\u52a0\u5bc6\u8ca8\u5e63\u4f9b\u61c9\uff0c\u6578\u503c\u8d8a\u9ad8\uff0c\u904b\u7528\u7a0b\u5ea6\u8d8a\u9ad8\u3002\u52a0\u5bc6\u8ca8\u5e63\u4f7f\u7528\u8005\u60f3\u6301\u6709\u5e63\u6642\uff0cvelocity\u4e00\u822c\u6703\u4e0b\u8dcc\u3002 \u7b2c\u4e8c\u5c64\u662fmarket sentiment\uff0c\u4f8b\u5b50\u6709\u52a0\u5bc6\u8ca8\u5e63\u5be6\u73fe\u50f9\u503c\uff08realised value of coin\uff09\u3002\u8a08\u7b97\u65b9\u6cd5\u662f\uff1a\u4ee5\u6cd5\u5b9a\u8ca8\u5e63\u8a08\u50f9\uff0c\u5c07\u7528\u4f5c\u6d88\u8cbb\u6642\u7684\u4e00\u500b\u52a0\u5bc6\u8ca8\u5e63\u7684\u50f9\u683c\uff0c\u6e1b\u53bb\u6d88\u8cbb\u4e4b\u524d\u3001\u525b\u6210\u70ba\u5132\u84c4\uff08saving\uff09\u6642\u540c\u4e00\u500b\u52a0\u5bc6\u8ca8\u5e63\u7684\u50f9\u683c\u3002\u6578\u503c\u8d8a\u9ad8\uff0c\u4ee3\u8868\u4ee5\u9019\u500b\u52a0\u5bc6\u8ca8\u5e63\u63db\u53d6\u7684goods\/services\u50f9\u503c\u8d8a\u9ad8\u3002\u56e0\u6b64\uff0crealised value\u8d8a\u9ad8\uff0c\u52a0\u5bc6\u8ca8\u5e63\u7684\u5408\u7406\u503c\uff08fair value\uff09\u8d8a\u9ad8\u3002\u5408\u7406\u503c\u7406\u8ad6\u4e0a\u6e90\u65bc\u4f9b\u6c42\uff0c\u6240\u4ee5\u53cd\u6620\u4e86\u5e02\u5834\u60c5\u7dd2\u3002 \u7b2c\u4e09\u5c64\u7684\u91cf\u5316\u6307\u6a19\uff0c\u4f8b\u5b50\u6709Puell\u53caMurad Mahmudov\u5171\u540c\u5275\u7acb\u7684MVRV\uff0c\u5373\u5e63\u7684\u5e02\u50f9\u8207\u5be6\u73fe\u50f9\u683c\u6bd4\u4f8b\uff08Market Value Realised Value ratio\uff09\u3002\u6bd4\u4f8b\u8d8a\u9ad8\u65bc1\uff0c\u4ee3\u8868\u52a0\u5bc6\u8ca8\u5e63\u7684\u5e02\u5834\u50f9\u503c\u8d8a\u9ad8\u65bc\u5176\u5408\u7406\u503c\uff1b\u7b49\u59821\uff0c\u5373\u4ee3\u8868\u5e02\u50f9\u8207\u5408\u7406\u503c\u76f8\u7b49\uff1b\u8d8a\u5c11\u65bc1\uff0c\u5c31\u4ee3\u8868\u52a0\u5bc6\u8ca8\u5e63\u7684\u5e02\u5834\u50f9\u503c\u8d8a\u4f4e\u65bc\u5176\u5408\u7406\u503c\u3002\u9019\u6642\u5019\uff0c\u4f60\u5c31\u53ef\u4ee5\u81ea\u884c\u56de\u6e2c\u5728\u5e63\u5e02\u4e2d\u8da8\u52e2\u8ddf\u8e64\u9084\u662f\u5747\u503c\u56de\u6b78\u8f03\u70ba\u6709\u6548\u3002\u6839\u64da\u500b\u4eba\u89c0\u5bdf\uff0c\u8da8\u52e2\u8ddf\u8e64\u73fe\u8c61\u8f03\u70ba\u5e38\u898b\u3002 \u4ee5\u4e0a\u5c31\u662f\u4e00\u500bon chain data\u7684\u6846\u67b6\uff0c\u5404\u4f4d\u53ef\u4ee5\u6839\u64da\u5e63\u7a2e\u61c9\u7528\u4e0d\u540c\u7684\u6307\u6a19\uff0c\u57f7\u884c\u9577\u63f8\u6216\u91cf\u5316\u7b56\u7565\u3002Glassnode\u6709\u5404\u5f0f\u5404\u6a23\u7684data\uff0cseries\u4e2d\u7684\u5176\u4ed6\u5c08\u6b04\u6703\u7e7c\u7e8c\u4ecb\u7d39\u53ca\u9032\u884c\u91cf\u5316\u5206\u6790\uff0c\u656c\u8acb\u671f\u5f85\u3002 \u95dc\u65bc\u8b80\u8005\u4e4b\u524d\u7684\u554f\u984c\uff0c\u6211\u6703\u76e1\u5feb\u89e3\u7b54\u3002"}