Hard pivot from crypto

The author, who says they have worked with at least 5 to 10 startups that pivoted away from crypto since the start of the year, argues that founders should weigh several factors before leaving crypto rather than abandoning it on sentiment. They point to a pattern in which sentiment hits rock bottom in the second half of the second year of a bear market, and say crypto cycles have lasted 4 years. They also note that everyone they know who left crypto in the last bear market regretted it, and that crypto products usually grow in a staircase pattern rather than a smooth curve. The author says founders typically need 1 to 2 years to find a market secret, and that staying in crypto after that period builds advantages a founder would lose by switching industries.