When will the market return to a major rising phase again?

This is not a bullish or a hopeful post, only the facts.

Recently, crypto folks are focusing on the macro picture. The mood is apathetic; stablecoin holders aren't deploying, just watching and waiting.

● So what now?

The best we can do is look for past parallels, with the COVID crisis still fresh in our memory. It's a useful reference for how things might unfold from here.

Here's my view of the current situation and a rough timeline for how long this downturn could last.

Spoiler: I believe this will be a relatively short crisis. However, the bad news is that predicting market movements in such an environment is nearly impossible. So consider this as one theory—not gospel.