Following up on his earlier work showing how "market narratives are marketing" Nathaniel Whittemore takes a closer look at what narratives may emerge from the crypto winter. The ICO reckoning, death spirals, layoffs, and rubbish metrics are just a few of the things we have already started to hear. At the same time narratives around institutionalization, privacy, and governance are equally as prevalent but also showing truly positive signs for the industry.