Dan Romero
@dwr.eth
Thoughts on the market 1. Crypto is / continues to be tightly coupled with risk assets; if risk assets sell off generally, crypto is hit even harder 2. The US regulatory situation continues to improve. People overrated the strategic reserve news. Underrating 1) SEC dropping nearly all cases against American crypto companies 2) explicit guidance that memecoins are not securities 3) pro-crypto chairs of SEC and CFTC 4) likelihood of legislation passing for a modern framework for security vs. commodity vis a vis decentralization, stablecoins, and “tokenization” (e.g stocks). This lags prices but medium term attracts new talent (critical!). 3. Infrastructure is ahead of apps — cheap / fast blockspace, flexible wallet infrastructure, mini apps, etc. 4. What will make prices go up? a) a bunch of interest rate cuts fuel risk asset prices b) Bitcoin moons, i.e. sovereign thesis c) people build apps that attract new users and capital (vs. competing for the same pool of existing users / capital)
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Icetoad 🎩🍕
@icetoad.eth
So, what you are saying is that since your "a few down days doesn't make a bear market" cast that you are now drinking the copium?
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Dan Romero
@dwr.eth
No. Depends on your perspective. My thoughts are from the perspective of someone building a crypto startup. If you're trading, sure definite a bear markets as X% down over Y time. If you're building, the macro environment has significantly improved since the depths of the winter in 22-23. This year still feels quite promising despite prices.
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