Bull Trap, or Bull Market? with Vance Spencer

24 snips

Jan 26, 2023

Vance Spencer, co-founder of Framework Ventures, shares his insights on the current state of the cryptocurrency market. He discusses the contrasting trajectories of Bitcoin, Ethereum, and Solana, and examines the significance of Layer 2 ecosystems. Vance also highlights the rise of decentralized finance amid shifting market sentiments and evaluates the potential of new players like Aptos. The conversation delves into strategies for navigating volatility, the impact of institutional sentiment, and the future of crypto gaming.

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INSIGHT

Ranging Market

Vance Spencer believes the crypto market is currently ranging.
He suggests focusing on long-term opportunities rather than short-term price fluctuations.

INSIGHT

Crypto Bottom

The crypto market bottom was in June for ETH at 888, coinciding with major sell-offs.
Vance Spencer suggests this won't repeat due to exhausted credit and major players already gone.

INSIGHT

Macro Indicators

Vance Spencer uses macro indicators like interest rates and liquidity to assess the market.
He advises a long-term perspective in crypto, especially during periods of uncertainty.

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Vance Spencer is the Co-Founder of Framework Ventures, a VC firm that got its claim to fame by sticking around during the 2018-2020 bear market, going all-in on DeFi before we had a name for it, and taking risks and finding gems while everyone else fled the industry.

This is Vance’s 4th appearance on Bankless, because in addition to being a chad VC, he’s also adept at measuring the markets and understanding metas, which is what we’re looking to do here today.

Bitcoin is down 66% from the top, but up 50% from the bottom! ETH Down 66% from the top, but up 75% from the bottom! Solana down 90%, but up 200% from the bottom! Meanwhile, Ethereum’s L2 ecosystem is HOT. OP is hitting ATHs. RPL is at its highs in ETH terms, nearing highs in USD terms… Aptos is somehow at a 16B valuation.

Question: Where are we??? Vance has the answer.

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----- Timestamps:

0:00 Intro 6:24 Vance's Read of the Market 8:10 Ranging 9:40 Indicators 13:00 Apathy Market 15:30 Trends 18:41 Institutions 22:45 Is FTX a Permanent Stain? 25:45 Aptos 29:30 Alt-L1s 35:05 Private Markets 37:24 Crypto Gaming 41:15 Future of DeFi Tokens 43:39 Macro & Recession 45:40 ETH/BTC 49:40 Alt-L1s Over? 51:05 2023 51:50 Closing & Disclaimers

----- Resources:

Vance Spencer https://twitter.com/pythianism

----- Not financial or tax advice. This channel is strictly educational and is not investment advice or a solicitation to buy or sell any assets or to make any financial decisions. This video is not tax advice. Talk to your accountant. Do your own research.

Disclosure. From time-to-time I may add links in this newsletter to products I use. I may receive commission if you make a purchase through one of these links. Additionally, the Bankless writers hold crypto assets. See our investment disclosures here: https://www.bankless.com/disclosures