It’s tough to know how long this down-phase will last. My best guess is until May. That’s when we’ll have the big industry conference called Consensus.

The Consensus conference has typically been a period when we’ve seen a lot of new big money enter the space. In the coming days, I’ll go into what I think will be a big announcement at Consensus that will drive the crypto market’s next up-phase.

For now, be patient with the market. And remember how the tech space acted between 1990–2000. Every pullback&—no matter how steep or how long&—was followed by higher highs. I expect the same to be true in cryptos for many years to come.