Is Q1 Going to Be Horrible for Crypto?

The last time we basically bottomed in MVRV was late 2018, early 2019. And I think what we were sort of waiting for is, look, the market sentiment has to get so bad that Bitcoin could double and no one would be calling for a bull market. That kind of negativity, like disillusionment Santiago that you were talking about, I think that sentiment broadly was necessary to find a market bottom. The worst is basically in for crypto. If DCG blows up tomorrow or tether or finance, we could see a leg lower. But I don't think we sustainably see lows from here for much longer.

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