Merry Christmas
Daily Ramble
It’s nice to live in a majority Catholic country where wishing one another Merry Christmas doesn’t invoke anxiety. The cherry on top is that it’s also the most festive, expressive season in Portugal. The Christmas cheer permeates the air…as long as you’re not in a vehicle.
If you are in a vehicle the last days before Christmas, God help you. No one shops early — and everyone is used to taking their time to get things done. The toxic combination manifests in cars bobbing and weaving their way to the malls, like punch drunk boxers. Thankfully, once at the malls, besides the deep sighs and glances at watches while waiting in line, the majority of the anxiety seems to have bled off en route.
Being sick last week, Ana and I had one heroic mission left before we could settle into Christmas relaxation: an IKEA run. We put on our game faces, drew up a battle plan, and headed into the void. Total success. Our first IKEA victory ever — no meltdowns save the gooey cinnamon rolls at the end. On the car ride home, we were talking about how the simple things in life these days were the most meaningful…and being able to spend the next couple of days as a family doing those things is what it’s all about.
So from our little family to yours, Merry Christmas. Enjoy the time with those you love and if you’ve not got that, reach out. I’m happy to talk. Look for your next Kent’s Corner on Monday.
Favorite Thing on the Interwebs Today
Just to help with the Christmas cheer.
Bitcoin Price Prediction
Yesterday: $22.3k - $25k
Today: $22.7k - $25k
Til Next Monday: $21k - $30k
Bitcoin has shifted into a consolidation period again. Quite healthy all things considered. The bears have rejected price at $24k twice in the last 24 hours and each time, Bitcoin is bought up. The first time it was rejected saw price come as low as $22.7k setting the low on the day. I continue to suspect we’ll see the $24k resistance broken sooner than later, but a pullback is looming at some point in the not so distant future. Since I won’t be advising on price action until Monday, I’m giving a wide prediction range to keep the bases covered. It’s a bull market and dips are for buying. But bull markets also have seen 30-40% pullbacks along the way.
Bitcoin Ed Bite
Yesterday I spoke about the importance of privacy and how surveillance capitalism has been as broken as the war on drugs — both reward those that take risks while harming the rest of us who come up against the black markets inadvertently.
That particular scree came out of a frustration at the new regulations the US is seeking to implement. What are they? They will seek to make private wallets public. One of the fundamental building blocks of Bitcoin has been the ability to hold Bitcoin as an individual. By being forced to declare your private Bitcoin wallets, the banking surveillance system will reach further into individual sovereign rights.
The flip side, if it were to happen, is that the Bitcoin marketplace would react accordingly — Bitcoin outside of regulation would suddenly be worth more than Bitcoin within the banking system. So, on the premise that this regulation does get implemented, it’s in your financial best interests (US citizens) to withdraw ahead of that. Wouldn’t it be great to get a premium on your Bitcoin?
Thanks for reading,
Kent
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