论文标题
投资加密货币后有十年的趋势证据
A Decade of Evidence of Trend Following Investing in Cryptocurrencies
论文作者
论文摘要
加密货币市场具有20世纪商品市场的许多特征，使它们成为策略之后的趋势候选人。我们从比特币的婴儿期出现了十年的证据，展示了加密货币趋势的潜在投资者收益，随后有255％的步行年度化收益。我们发现，加密货币为具有相似风险调整后收益的商品以及针对传统股票的强大熊市多元化提供了类似的回报特征。可在https://github.com/globe-research/bittrends上获得代码。
Cryptocurrency markets have many of the characteristics of 20th century commodities markets, making them an attractive candidate for trend following strategies. We present a decade of evidence from the infancy of bitcoin, showcasing the potential investor returns in cryptocurrency trend following, 255% walkforward annualised returns. We find that cryptocurrencies offer similar returns characteristics to commodities with similar risk-adjusted returns, and strong bear market diversification against traditional equities. Code available at https://github.com/Globe-Research/bittrends.
