While Bitcoin’s price was stagnant for most of Q3 2023, it has rallied by over 28% this quarter, and there are few metrics which indicate that this could be the beginning of a secular bull market.
Across the board, valuations on practically all crypto projects rose significantly during the 2020-2021 bull market, but as the market contracted throughout 2022, VC’s also started to see valuations of investments taking a heavy nosedive.