Returning
Daily Ramble
The law of returning: it always comes too soon. It’s the corollary to the law of leaving, which, if you recall from Friday’s Ramble, was the difficulty in pulling stakes the longer you’ve been planted in one place. Instead, the law of returning states how much easier it is to stay nomadic once you’ve started.
The family and I meandered across the innards of Portugal, an area where being an American was similar to my reception in India — met full of wonder and surprise. Being rarely traversed by tourists, it got my nomadic juices pumping again. From 2012 to 2016, I spent my days living out of a backpack, tramping around to where ever caught my fancy. That includes more states and countries than I care to list (I started before laziness got the best of me…). Let’s say when it comes to seeing “what’s over the next horizon,” I consider myself a pro. Eventually, I got sick of it, which is why we plopped down in Sintra.
No, that doesn’t mean you get pictures of our long weekend adventure. Pictures spread haphazardly across the internet make travel too convenient while removing four senses from the equation. It just doesn’t do the travel experience justice and encourages laziness (or is that just me?). Instead, after a midnight landing in the wilderness, I’ll mention waking up Saturday morning to an area that was the spitting image of Ferdinand’s stomping grounds. If you’ve got kids or nephews in your family, I’m sure you’ve read the story of Ferdinand or watched the Disney animated film that doesn’t do the book justice. Wild boars threatened our campmates in the night, we spotted a golden eagle floating overhead, and I swear I caught a glimpse of an Iberian Lynx, though my wife disagrees. True blue wilderness in Portugal. It scratched a long-held itch.
Long story short, it was the break our little family needed. And a reminder of how much more there is to explore in this tiny country hugging the Atlantic coast. But…it would have been all of our preference just to let the nomadic adventure roll.
Favorite Things on the Interwebs Today
If that doesn’t make you excited to go sailing….
Bitcoin Price Prediction
Long Weekend: $50k - $60k
Today: $52.3k - $57.2k
Tomorrow: $50k - $57k
Going into the weekend, I was concerned we’d get a head fake. Instead, the price went sideways, bouncing between $56k and $58.5k. Yesterday was much the same, but today, we got some fundamental news from Yellen, suggesting a future rate hike would be needed by the Federal Reserve to cool the economy. Yellen is not at the Fed, so her words aren’t more than a suggestion by the US Treasury Secretary, but the markets reacted like a bag of ice was thrown on them — Bitcoin being no exception. I don’t anticipate this will do more than make the market go sideways for a few days longer, despite today’s 6% drop. As long as we continue to bounce between $50k and $60k, I continue to see this as bullish consolidation.
Bitcoin Q & A
Q: Does Bitcoin matter to everyone?
A: Absolutely.
The fact that Bitcoin exists and is outside the control of any entity provides a counterpoint to the monetary inflation of central banks around the world. There is no escape valve for humanity to move their wealth into to avoid currency debasement without it. And without a fiscal escape valve, humanity is trapped on a treadmill, constantly trying to escape the impacts of inflation on their savings.
Thanks for reading,
Kent
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