 Welcome to Digital Asset News. My name is Rob. Today, the case can be made for a recovering bullishness, not to say that we're not going to see some bearish tendencies in these markets as they play out, but just take a look at some positivity that's going on. I kind of broke this down into three different sections. One is the narrative as far as what is going on in the market itself. The second part was going to take a look at just some indicators and things that are going on. And lastly, we'll take a look at some on-chain analysis. So to jump right in, first things first, I might take a look at the bear market. The first thing I think about is, is this a time to build in our other projects building? Well, not only they're building, but other products are dying. And that quite honestly is better than these other projects building because when you can have these projects die off, they take away the funds that of course are stuck there and people have them. They can move those into other portfolios or other different products that probably are more deserving. And also the resources that these dying or dead products are hoarding can actually move some place else. So this is a great article from BlockWorks and talks about how crypto's dead coins are portfolio pitfalls. And 2023 proves hopeful. And what it talks about is that the research compiled by a coin kickoff shows that more than 90% of digital assets spun up since a crash in 2014 have since been abandoned by investors and developers. What that means is that since 2014, 90% of the trash that was out there is just done for. There was a Bitcoin surge in 2013, roughly 793 new tokens joined the fray by the end of the following year. Of course, this happens every single time when you have all-time high years, 2013, 2017, 2021. You have a bunch of trash that just comes along with it and just takes away resources from more deserving, I think, projects. Data from dead coin follower CoinOpsy found digital assets tend to have remarkably short lifespans, just 15 months. More than half of all coins introduced every year between 2013 and 2018 no longer exist. So we're taking a look at 15 months. You know what's great about that? We are now in 2023. We're going into January. If we're talking about 15 months, 2021 or 2022 was a pretty rough year. Things started in 2021, which means that those projects are dying off and the resources are going to be allocated to different crypto projects again that are more deserving. So that's the narrative. And then also, if we take a look at the things that are going on globally, this is a good one also in Blockworks. Dubai Freezone now home to more than 500 crypto startups. A dedicated hub for local crypto entrepreneurs attracted twice as many startups last year than in 2021. So remember, in 2021, we had our all-time highs. 2022 was rocky, but this was the time as everything started to fall down and we move into it that more projects are starting to build. And what's a good way to do that? First of all, you want to move to a place that's a little more crypto friendly than the United States and also for tax incentives. That is why they move into Dubai. They can openly and freely create and don't pay so much taxes. So this was 150 crypto related startups were added in 2021 and now they had twice as much as 343 where digital assets startups joined DMCC's crypto center roughly in 2022. So again, these two things, the narrative which I say is, well, that's positive from moving into a bearish case into a bullish said case. And also we take a look at some, some indicators here. The MVRV score, which is, this is the market value divided by or taking a look at the realized value. The realized value is the orange line where it takes away all this, some noise or excuse me, the Z score, takes away some noise. And we can see, I love this website looking at Bitcoin, makes things very simple. When things get into overheated territory, maybe a good idea to think about selling. When we get some degree in territory, maybe a good idea to start accumulating. And we are still in this green zone. But if you can take a look here, we are rebounding a little bit more and going on to the up trajectory, but very slowly, I might add. Also, if we take a look at some, as far as current price for who is in the money and out of the money, once we start to get, this is from into the block, see how there's 52% as in the money, 47% is out of the money. Once we start to hit that 50-50 ratio, and once we start to have more people out of the money than in the money, that's when more people just capitulate and say, we're done. And you can see that we're pretty close. And actually over time, what's interesting about this is that you'll note that during these huge sell-off times, when people are out of the money, and we can take a look here in 2015, some of the biggest slumps were when we had the cycle lows, here's January 5th, 2015, and people that were out of the money, 65%. If we take a look over here, cycle highs and lows, when was the ultimate low? Well, January 2015, how crazy is that? And if we go forward, take a look into 2018, coming along this way, we can see that's on, actually, Monday, December 3rd, 2018, 53% were out of the money, and only 43% were in. And in 2018, December, when was that? Well, if we go forward, that was also the lows at the same time. And now, where are we at? Well, we're over here, and we're almost 50-50 split. So, I think if we're not at the bottom, we're close to the bottom, I still think we can go a little lower, but I think 2023 could be that turnaround year. And then lastly, take a look at the monthly returns every year, or every four-year cycle. Now, we have two years after the all-time highs is when it becomes what I call a rebound year. So, in 2015, you've got one, two, three, four, five, six, seven, seven green months, and of course, five red months. And if we take a look at 2019, we had one, two, three, four, five, six green months, and six red months, so roughly 50-50, same thing as again. And 2023, I think we're going to repeat that process. That's going to be a little bit of bullish, a little bit of bearish, but this is what I call the reset years. But one thing to note here, and this is going to be interesting how this plays out, but you see the numbers here, we're 5% up for January. You'll note that in the January months of the rebound years, we were down 7% for January. And in 2015, we were down 31%. If we can close on a reset year, on a positive, that will be a game changer for just where as far as momentum we are going. Now, it's only the 12th of January. We've got a couple of weeks to go, but things are looking relatively positive. Does that mean that we can't just drop off a cliff tomorrow? No, that's not what I'm saying. But I think there's some things to look at that are a little bit better. Now, there's some macro events. And of course, we've talked about that numerous times. I don't think everything's going to turn around on a dime and just start going straight up. But I think we potentially could be in a better place than we were in 2022. So that's it for today. So look, like this video, give it a thumbs up, consider subscribing, all things we talk about our time sensitive, especially things we just said. So that's it for today. Thanks so much for stopping by. See you on the next one.