Looking at the chart of Bitcoin price, it looks like waves. Sometimes the seas are calm, sometimes the seas are rough. Speculators come and go, leaving scars on the chart as they extract value from weaker hodlers. The inflows of capital that drive the long term demand for Bitcoin are steadily increasing. Bitcoin’s supply and issuance is fixed, understood, and known in advance. It’s arguably the only digital thing like it. With supply perfectly understood, modelling the demand is the only variable to the price. As other assets eb and flow, in and out, Bitcoin serves to regulate the rationality of other markets. While the price may suffer exhilteratingly fast and steep drops unlike more familiar, slow and steady markets, like airplanes or seafaring explorers who are nearly constantly off course, the destination will surely be reached, Up and To the Right.