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Crypto’s 2023 “Health Check” | Vance Spencer
Forward Guidance
The Market Is Just Changing Dramatically
For over a month now, it's been pretty stable prices in Bitcoin and ETH. I don't know if it's been a standstill. If you look at the June Celsius three arrows, Luna collapse versus the FTX collapse, there's been a lot of dispersion. The narrative is shifting from utility and application and adoption on Ether to digital pet gold pet rock on Bitcoin. This is a new type of market. Usually in crypto, everything's just correlated to one but because there's VC unlocks,. Wall Street thinks Coinbase is like FTX because the narrative is shifting towards value-oriented use cases.
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