Crypto Bear Market Retrospective: Lessons Learned and Projects Built

In the 10+ year history of Bitcoin, there have been multiple 70%+ drawdowns and one 90%+ drawdown. Since coming on the scene in 2015, Ethereum has also experienced at least two 70%+ drawdowns. In hindsight, most of these downturns had a fairly obvious root cause, whether it be a hack, exchange shutdown, regulatory action, or a broader macro sell-off. Notable projects and investible themes often came out of these bear markets as a response to whatever caused that particular downturn or as a response to underlying deficiencies plaguing the ecosystem at that time. As we eventually come out of the 2022 bear market, we can’t be certain what innovations will be created, but investors can look at the current problem set and extrapolate the solutions to the issues that we see today. We see opportunities in GameFi, Decentralized Social, streaming payments, mobile, and other avenues.

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