Checked Out
Daily Ramble
Most weekends, something clever comes to me to write about on Monday. This weekend, I checked out. My head was getting separated from my body, floating off into the screen, and I decided it was time to focus on eating, sleeping, and exercise.
Yoga, surf, friends, and food. It’s hard to find a better combo than those four to get reacquainted with life’s priorities. Every time I get back to basics, I’m shocked at how disconnected I’d become. Like a frog refusing to exit a boiling pot of water, I find the screen manages to boil my mind without my notice. And it’s not until I reset myself that I realize how stewed it’s become.
That’s all to say, my mind is feeling nice and fresh, but the intentionally thoughtless activities of the weekend have me rolling snake eyes today. Totally worth it. And if you’ve been overindulging on the screen too, I promise, it’s worth it to check out — even if your Monday readers are less than impressed.
Favorite Thing on the Interwebs Today
Cappadocia, Turkey — where some of the first Christians hid from persecution.
Bitcoin Price Prediction
Weekend: $38.9k - $55.8k
Today: $47.2k - $52.8k
Tomorrow: $47.2k - $55k
Bitcoin consolidated through the weekend without a range breakout. As a result, the extremes I provided in my weekend price prediction were nowhere near accurate. What did occur over the weekend was a slow grind up and to the right. That looks set to continue today. That’s about the healthiest outcome we could have here as the price action continues to lay support for the future. At the moment, it looks like the price is retesting psychological support at $50k before seeking more upside as we continue to grind our way up from a low of $46.3k set on Friday. Looking at market fundamentals, Bitcoin continues to leave exchanges, Bitcoin miners are depleted of inventory to sell, and the US Senate passed the $1.9T stimulus bill debated upon since December. We’re three weeks into our pullback here, and, while historically in a bull run, those can last up to 8 weeks, our first pullback in January only lasted 4 weeks. All in all, I can’t see us hanging out in this range more than another couple of weeks.
Bitcoin Ed Bite
Q: Where can I do a deep dive on Bitcoin?
A: It takes the typical person around 50 hours of study to “get” Bitcoin. There is no better investment for your future than those hours.
Here are my favorite education resources:
Gradually, The Suddenly - a seminal series by Parker Lewis whose title defines Bitcoin’s adoption.
The Bullish Case for Bitcoin - self-explanatory seminal piece by Vijay Boyapati.
Case Bitcoin - a website focused on making the case for Bitcoin.
Bitcoin for Everyone - a free online course sponsored by Michael Saylor.
Thanks for reading,
Kent
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