Monday, January 10th 2022 - Issue #1142

This is what normalization looks like

What a difference a year makes. At this point in 2021 the price of bitcoin had just breached a new all time high above $41,000 and was experiencing a slight price correction before going on a two-month run that would see prices pushed well above $60,000. As you can see from the pictures above, the sentiment around the bitcoin markets has shifted drastically year on year even though the price of bitcoin stands at roughly the same level. Many are fearful at the moment while they were experiencing euphoric emotions this time last year.

Human emotions are fascinating and extremely volatile. This is something your Uncle Marty is making an ongoing concerted effort to internalize because - once internalized - it forces one to zoom out and look at the bigger picture as opposed to getting caught in the chaotic noise of the moment. The chaotic noise produced by the price of bitcoin on any given day is a textbook example of something that can be extremely distracting. No matter what direction the price is moving in when it happens to be isolated by a headline. What individuals should be focusing on is fundamentals and the long-term trend.

Bitcoin is a distributed peer-to-peer cash system unlike any monetary system that has ever existed throughout the history of humanity. Its competitors are far inferior in regards to settlement time, openness, ease of use, and credibility of their monetary policy. Over the first thirteen years of its existence more and more individuals have come to recognize these fundamentals and the fact that they catapult Bitcoin into a different category when compared with others attempting to bring these use cases to market. That is why so much intellectual, financial and sweat capital has poured into the network to date and why even more will continue to pour in moving forward. Humanity is restructuring itself around a Truth machine in Bitcoin. This is where one's focus should lie. Not on whether or not it is a good time to buy or sell bitcoin. That activity is for the distracted.

One should look at the differing scores on the fear index just 12-months apart and at the same exact price as a sign that the fundamentals are strong. $41,000 bitcoin has been so normalized that people don't believe that it is "this low". If you would have told 2016 Marty that people in early 2022 would be complaining about $41,000 bitcoin, he would spit out his coffee because he wouldn't believe the price got that high that quickly. The fact that many are fearful at these levels is a sign of Bitcoin's success and normalization within society.

Zoom out. Everything is working out beautifully.

Final thought...

There is something so incredibly soothing about a fire pit.

Share

Forward

Hope you enjoyed today's issue. If you have any friends that are looking to find out more about Bitcoin have them sign up for this newsletter here:

Get Ƀent

Ƀent noun 1. direction taken, as by one's interests; inclination.

Thanks for reading Marty's Ƀent, a daily newsletter containing all the information I found interesting in the Bitcoin world in the last 24 hours.

Marty's Ƀent - January 10th, 2022 - Issue #1142

This is what normalization looks like

Older messages

The Sat Standard - Bitcoin Weekly - Jan 1 2022

Marty's Ƀent - January 6th, 2022 - Issue #1141

Marty's Ƀent - January 5th, 2022 - Issue #1140

Marty's Ƀent - January 4th, 2022 - Issue #1139

Marty's Ƀent - January 3rd, 2022 - Issue #1138

You Might Also Like

April 30 set for historic launch of Bitcoin and Ethereum ETFs in Hong Kong

DeFi & L1L2 Weekly - 💧Ethereum Liquid Restaking Drives DeFi TVL to 2-Year Highs

DeFi & L1L2 Weekly - 💧Ethereum Liquid Restaking Drives DeFi TVL to 2-Year Highs

OKX Web3 On-Chain Anti-Phishing Security Trading Guide

You’re Not Going to Believe This

New Quests: increase AirDrop eligibility

Robert F. Kennedy, Jr. wants to put US budget on blockchain for 24/7 transparency

Layer-1 Landscape

Cathie Wood Iinterview In HK: Bitcoin Price Prediction for 2030, HK Is a Leading Crypto Policy Pioneer

100k signatures can trigger Swiss national referendum on adding Bitcoin to country reserves