Chapter 1: The Return of Optimism

In the realm of cryptocurrency, I follow numerous Bitcoin and crypto newsletters to stay updated on the thoughts and insights of fellow Bitcoin enthusiasts. This month, a notable trend has emerged: renewed optimism surrounding Bitcoin. It feels reminiscent of the vibrant days of 2021.

Goodbye to a Tough 2022

The year 2022 posed significant challenges for Bitcoin supporters. It seemed that the cryptocurrency faced an endless barrage of negative news that could have driven it to collapse. A brief overview of the tumultuous events — Terra/Luna, Voyager Digital, Celsius, FTX, Alameda Research, Genesis Capital, Gemini Earn, BlockFi, and Three Arrows Capital — reveals the extensive fallout in the crypto space. Writing about these events was no easy task.

Despite the turmoil, the Bitcoin network continued to operate seamlessly. It remained purely decentralized, devoid of any worthless tokens, leverage, mismanagement, or fraud. Bitcoin neither filed for bankruptcy nor faced legal troubles. The casualties of the crypto crisis had no connection to Bitcoin itself, and this realization is beginning to take hold among the public.

Bitcoin's Impressive Price Surge

As noted last week, Bitcoin began 2023 at approximately $16,500 and has surged to over $23,000 in January alone, marking a staggering 40% increase in just a few weeks. This is reminiscent of previous Bitcoin bull markets, despite the ongoing negative news in the broader crypto industry, regulatory pressures from governments, rampant inflation, and a struggling economy.

Even staunch Bitcoin skeptics, such as Peter Schiff, might have to acknowledge the impressive performance Bitcoin has displayed this month.

Here Come the Bulls!

Mark Helfman, author of the “Crypto Is Easy” Substack newsletter, proclaimed, “This is going to be a big year!” Meanwhile, Bam, the author of “WTF Happened in Bitcoin This Week?” stated, “Bitcoin can't be stopped!” Bloomberg Intelligence's newsletter emphasized, “The big picture looks very bullish for Bitcoin.” Scott Melker, known as the “Wolf of All Streets,” raised the question, “Is this market too hot?” adding to the bullish sentiment surrounding Bitcoin.

The excitement for Bitcoin is palpable, especially within the Twitter community. Dr. Jeff Ross, CEO of Vailshire Capital Management, tweeted recently:

“The bull is back, Baby (for now) #Bitcoin…get some…in case it catches on.”

7:27 PM ? Jan 19, 2023

On the same day, Bitcoin Magazine tweeted about the bullish phase that Bitcoin is entering in this four-year cycle:

12:16 AM ? Jan 20, 2023

Bitcoin has a history of remarkable price runs in 2013, 2017, and 2021, each following its predictable four-year halving cycles. While 2019 was also a decent year, the even-numbered years have been notably challenging. After a shakeout of numerous worthless crypto schemes, Bitcoin is positioning itself as the leader, and for good reason, as its decentralized nature and fixed supply continue to appeal to investors.

Unlike the frenzied predictions of 2021, many Bitcoin influencers seem more reserved this time around, allowing Bitcoin's performance to speak for itself. This, too, is a sign of optimism.

Thank you for taking the time to read this newsletter. Please share it with others interested in Bitcoin.

Stack, and Hodl.

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Chapter 2: Insights from Influencers

The first video, "The Bulls Are Back in Town | The Morning Show," discusses the renewed excitement and optimism among Bitcoin enthusiasts after a challenging year.

The second video, "'The Bulls Are No Longer In Control' — What Markets Are Signaling | Tom McClellan," explores market signals and the broader implications for Bitcoin and other cryptocurrencies.