“特朗普颠簸”变成了“特朗普垃圾场”

一年中的几乎每种加密货币都会大大减少，而且还没有任何迹象表明很快就会有周转。

The "Trump Bump" has turned into the "Trump Dump." Just about every cryptocurrency is down big for the year, and there are no signs yet that there will be a turnaround anytime soon.

“特朗普颠簸”变成了“特朗普垃圾场”。一年中的几乎每种加密货币都会大大减少，而且还没有任何迹象表明很快就会有周转。

Fears around U.S. President Donald Trump's tariff declarations, combined with recession fears, have been a potent double-whammy for both Nasdaq tech stocks and cryptocurrencies.

美国总统唐纳德·特朗普（Donald Trump）的关税声明以及衰退的恐惧的恐惧，对纳斯达克技术股票和加密货币都有强大的双重打击。

Bitcoin (BTC 2.66%) is down 15% for the year, Solana (SOL 1.73%) is down 35%, and Ethereum (ETH 1.04%) is down 45%. So are any of these cryptos worth buying right now?

比特币（BTC 2.66％）在一年中下降了15％，Solana（SOL 1.73％）下降了35％，以太坊（ETH 1.04％）下降了45％。那么这些加密货币中的任何一个现在都值得购买吗？

Bitcoin

比特币

We've seen this story before with Bitcoin. There's a reason why Bitcoin has acquired the reputation of being a highly volatile asset. Drawdowns of 20% to 30% are par for the course. In fact, according to Cathie Wood of Ark Invest, there have been at least five distinct times in Bitcoin's history when it has fallen by 77% or more.

我们以前用比特币看过这个故事。比特币获得了高度挥发性资产的声誉是有原因的。该课程的降低为20％至30％。实际上，根据Ark Invest的Cathie Wood的说法，比特币历史上至少有五次截然不同的时间，当时它下降了77％或更多。

And, while there's no glossing over the fact that investors are de-risking and selling Bitcoin, even the biggest skeptic has to admit that Bitcoin has held up much better than just about any other cryptocurrency. Until recently, Bitcoin had been considered a hedge against economic uncertainty. Some investors even consider Bitcoin to be a "safe haven" asset and the equivalent of "digital gold."

而且，尽管投资者正在脱离风险和销售比特币的事实并没有掩饰，但即使是最大的怀疑者也必须承认，比特币的举足轻重比其他任何加密货币都要好得多。直到最近，比特币一直被认为是对经济不确定性的对冲。一些投资者甚至认为比特币是“避风港”资产，相当于“数字黄金”。

Image source: Getty Images.

图像来源：盖蒂图像。

One way to ride out the current crypto storm is by hunkering down and buying Bitcoin. You can dollar-cost average on the way down, and then dollar-cost average on the way up. This is not to say that Bitcoin is by any means "safe" -- but it has gained so much institutional adoption over the past 15 months (ever since the launch of the new spot Bitcoin ETFs) that it might just be the one crypto worth loading up on right now.

消除当前的加密风暴的一种方法是低头购买比特币。您可以在下降的途中平均美元成本，然后在上升的途中美元的平均值。这并不是说比特币无论如何都是“安全的”，但是在过去的15个月中（自新现场比特币ETF的推出以来，它都获得了如此多的机构采用，以至于现在可能是一个值得一提的加密货币。

Solana and Ethereum

Solana和以太坊

You have to make a choice here: Solana or Ethereum. They are the two leading Layer 1 blockchain networks, and both have very large, very diverse blockchain ecosystems. In short, they're the building blocks of the modern blockchain economy. That makes them very valuable. Every sector of the blockchain world -- from gaming to Web3 to decentralized finance (DeFi) -- depends on them.

您必须在这里做出选择：Solana或以太坊。它们是两个领先的第1层区块链网络，并且都具有非常大的，非常多样化的区块链生态系统。简而言之，它们是现代区块链经济的基础。这使它们非常有价值。区块链世界的每个领域 - 从游戏到Web3再到分散的财务（DEFI） - 取决于它们。

From my perspective, Solana is the future, while Ethereum is the past. Solana is cheaper, faster, and more efficient than Ethereum, and that is leading to much higher future growth prospects. Granted, some of that growth has been the result of meme coin fads, but there's still a lot to like. Solana is making major headway in areas such as decentralized finance, and has a very robust mobile crypto strategy.

从我的角度来看，索拉纳是未来，而以太坊是过去。索拉纳（Solana）比以太坊（以太坊）便宜，更快，更高效，这导致了更高的未来增长前景。当然，其中一些增长是Meme Coin Fads的结果，但仍然有很多喜欢。索拉纳（Solana）在分散融资等领域取得了重大进展，并且具有非常强大的移动加密策略。

Ethereum is still a major DeFi powerhouse, and the Trump administration is doing everything it can to promote the idea of Ethereum becoming the building block of a modern, blockchain-based financial system. If you look through the portfolio holdings of World Liberty Financial, the Trump-affiliated crypto company, it's clear that it's positioning itself for an Ethereum-led DeFi system. So maybe Ethereum really can turn things around.

以太坊仍然是一个主要的辩护力量，特朗普政府正在竭尽所能，以促进以太坊成为现代，基于区块链的金融体系的基础。如果您浏览特朗普附属的加密货币公司世界自由金融公司的投资组合持有，很明显，它正在为以太坊领导的Defi系统定位。因此，也许以太坊真的可以扭转局面。

Beware the bargain basement bin

当心讨价还价的地下室垃圾箱

Keep in mind, though, that just because a crypto is down big for the year, that doesn't necessarily make it a great buy. Think about any experience you've ever had shopping at a "Going Out of Business, Everything Must Go" sale. Sure, some things are really cheap, but how many of them do you want or need?

不过，请记住，这仅仅是因为加密货币的一年倒计时很大，这并不一定会使它成为一个很棒的购买。想一想您曾经在“倒闭，一切都必须去的”销售中购物的任何经历。当然，有些事情真的很便宜，但是您想要或需要多少东西？

In the crypto market, there's one category I'm avoiding for now: meme coins. The numbers are ugly, and I don't see a lot of hidden value. Among major meme coins, Dogecoin is down 50%, Pepe is down 70%, Floki is down 70%, and Dogwifhat (yet another dog-themed meme coin, this one wearing a hat) is down 80%. The meme coin speculative bubble burst in February, meaning that even the Official Trump meme coin is too hot to handle right now.

在加密市场中，我目前避免了一个类别：模因硬币。这些数字很丑陋，我看不到太多隐藏价值。在主要的模因硬币中，狗狗币下跌了50％，佩佩下跌70％，Floki下降了70％，而Dogwifhat（又是另一个以狗为主题的模因硬币，这款戴着帽子）下降了80％。模因硬币投机泡沫在2月爆发，这意味着即使是官方的特朗普模因硬币也太热了，无法立即处理。

Buy, sell, or hold?

买，出售或持有？

Of the three cryptos listed above, Bitcoin and Solana are clear buys. They've been battered down to unreasonably low levels. Solana, for example, was a $294 coin on Jan. 19. Less than two months later, it's trading around $125.

在上面列出的三个加密货币中，比特币和索拉纳是清晰的购买。他们被打击到不合理的低水平。例如，索拉纳（Solana）在1月19日是294美元的硬币。不到两个月后，它的交易约为125美元。

I'm still on the fence about Ethereum, however. If you only look at its past historical track record, it seems like a no-brainer buy at current discounted prices. But it has been a market laggard for months now, even before the crypto sell-off started. If you already have Ethereum in your crypto portfolio, it's worth holding on to see if the Trump crypto team can move it higher. But I wouldn't advise

但是，我仍然对以太坊的篱笆。如果您只查看其过去的历史记录，那似乎以当前的折扣价购买。但是，甚至在加密货币抛售开始之前，这已经是一个市场落后了几个月。如果您的加密产品组合中已经有以太坊，那么值得一提的是，特朗普加密团队是否可以将其提高。但我不建议