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Daily Ramble
My apologies for the missed Rambles the last couple of days. The travel and moving requirements hit 11 out of 10 for a few days but are thankfully behind us now. The first step out the door on a grand adventure is always the toughest.
It’s good to be back at the family farm in Oregon, where I sit and type these words. We already had a successful foraging session, complete with chanterelle and lobster mushrooms, blackberries and huckleberries, and Asian pears to round out the efforts, which is a good change of pace from two days of travel trying to convince a 3-year-old that wearing a mask is necessary. I don’t know what US politico decided masks were needed on kids older than 2, but I’d be tough-pressed to shed a tear if s/he fell off a cliff one day soon.
So what’s it like to be back in the US again? Culture shock comes to mind. Suddenly understanding all the background conversations is a disconcerting realization. Living in Portugal with less than fluent Portuguese, I forget it’s unnatural not to understand what’s happening around me. Then there’s the forwardness of the US culture. The general tendency to strike up a conversation with strangers doesn’t happen in Portugal. Portuguese are quite friendly, but they’re quite sensitive to other’s space and don’t strike up conversations wily-nily. Suffice it to say, with Naia, we made many new friends and learned quite a bit on our cross-continent travels.
But the most shocking bit has been price shock. After 24 hours of travel, we were forced to overnight in San Francisco, arriving well after 9 PM Pacific Standard Time. Being jet-lagged but not being hungry enough to go out for a meal, I grabbed some frozen organic burritos from the hotel market to get us by. I asked the hotel staff how much they were, and hearing $9.16, I left $10 and went back to the microwave. The receptionist came back embarrassed to let me know that they were $9.16 EACH. The shock on my face threw her, and she gave me a one burrito discount, bringing it to a $20 burrito night for a bit over a pound and a half of microwaved food. The last time I priced these particular burritos, they were less than a $3 item. Inflation meets hotel mark up. Highway-robbery, I’m sorry, but you’ve got competition. You’ve won this battle, Mr. America.
But the family is winning at life. I can tell by the peels of laughter between grandparents and Naia. With more than a year of relating through video screens, being together has never been better.
Astonishing Things on the Interwebs
Bitcoin Price Prediction
Today: $48.6k - $51.6k
Tomorrow: $48.6k - $54k
At the beginning of today’s session, Bitcoin broke above the $49k resistance definitively. We may close below $49k by the end of the day, but the odds seem low at this point based on the last couple of days of price action. Instead, I anticipate we move quickly up into the next resistance just below $52k. Fortunately, there’s not a lot of serious resistance until we hit $56k, so I anticipate that we see a decent move up over the next few days. But, again, that’s all predicated on Bitcoin holding $49k today. Failure to close above it, though low odds, would be a bearish victory that would likely lead to a larger pullback.
Bitcoin Q & A
Q: Is Bitcoin part of the “Great Reset”?
A: No.
The Great Reset was the name of the last World Economic Forum meeting held in June. It was premised on the idea that the COVID pandemic would allow society to “reset” in a way that would bring a more promising future through an embrace of climate change initiatives and technology. Many have theorized that it’s the backdrop needed to reset the monetary system into a new format. Since Bitcoin is outside the control of any central planner, it is not considered a part of the “Great Reset” agenda.
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