TBL Weekly #8
Our weekly recap of The Bitcoin Layer posts, videos, and market analysis for the week.
Bitcoin fell 14% this week as it lost its recent trend line of support. We also are proud to share some new ways to follow along and learn about bitcoin and macro.
Welcome to TBL Weekly #8, grab a coffee and dive into this week’s highlights.
New TBL Socials
We’re now on Instagram and TikTok in addition to our Twitter, LinkedIn, and YouTube! Follow us everywhere to conveniently see our brand-new quick markets wrap every morning called Daily Cup of Joe (featuring Joe Consorti of course!), as well as clips of our video content:
Instagram - https://www.instagram.com/thebitcoinlayer
TikTok - https://www.tiktok.com/@thebitcoinlayer
Tuesday
Nik discusses the differences between Bitcoin and Ethereum, comparing the different governance structures and supply schedules to make the case that bitcoin is the superior investment:
Wednesday
Nik and Joe discuss where the terminal rate is currently priced in Fed Funds, and why forward-looking risk assets like bitcoin seem to have already formed a bottom:
Thursday
Nik announces his new, free Monetary History course at Saylor Academy, which has been in the works for a year! You do not want to miss this one. His book, Layered Money, is included for free within the course.
Get a world-class monetary history, economics, and bitcoin education for FREE at: http://sylr.org/MonetaryHistory. Watch this short video to learn more:
Friday
Nik breaks down how bitcoin is an inexorable cultural phenomenon, and how 63% of on-chain volume being $10M+ in size illustrates how bitcoin is starting to see real, institutional-sized economic activity, measurably monetizing into a base layer money:
A special thank you to our designer Matthew Ball, who put together the beautiful graphic for Friday’s piece:
Market Analysis
Here is our market analysis for the week ending Saturday, August 20th, 2022. The notable events in our Market Monitor are value ratios falling below one as bitcoin’s price declined, and a falling correlation between BTC and ETH/BTC as well as BTC and the stock market:
Next week, we look to the Jackson Hole conference, where Chairman Powell could offer some pre-August CPI forward guidance on where monetary policy is headed. Given the relative strength of risk assets, this could be his chance to cement himself as a hawkish inflation fighter. We are skeptical he’ll be so bold.
Have a great weekend everybody!