What Are Your Expectations for Bitcoin in 2023?

Bitcoin has never existed in a recessionary environment. Is it going to continue to act like a risk on asset? I think most likely, but I would put some caveats on that. When we look at the 2023, I see something a little different, which is we're getting probably close to the top of the Fed hiking cycle. And so I'm not as concerned about valuation compression going forward, at least after maybe quarter one 2023 or so. But I'm concerned about corporate earnings going down, because I think the economic deterioration is likely to continue.