TD₿: What Bitcoin Did in 2018 by Marty Bent with Peter McCormack
TL;DR Bitcoiners are born in fire as they continue to learn and accumulate through bear markets.
Hey Bitcoiners,
The comparisons to Bitcoin’s 2018 bear market are becoming more evident every day.
In the winter of 2018, we had a Federal Reserve raising interest rates, deteriorating financial conditions, the stock and bond markets were rolling over, and Bitcoin was already down >60% on the year.
This is very similar to the macroeconomic environment we find ourselves in today, and even more so, it FEELS the same.
Market cycles are ultimately driven by human behavior (fear and greed), and right now, there’s a ton of fear in the market. When we reach peak fear, that typically marks the bottom of Bitcoin bear markets.
The similarities in the feelings of different bear markets are on full display in this discussion between Marty Bent and Peter McCormack recorded at the bottom of the 2018 bear market (12/28/2018).
The beauty of Bitcoin is it takes human behavior out of the equation. Bitcoin doesn’t care about the macroeconomic environment. It isn’t reactive like the Fed.
Bitcoin will keep trucking along, exactly how it was designed to do, forever.
Tick tock next block,
Cory Klippsten
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Quote of the Day
“Bitcoin maxis are minted in bear markets, not bull markets. Legacy building opportunity all time highs over the next few months.” - Adam West, Bitcoiner and Architect
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