THE Portuguese Christmas Question
Daily Ramble
Christmas was a cheery, festive occasion on our end, and I hope it was on yours. The squeals of delight from our daughter finding a gigantic, stuffed elephant on a doll bed under the Christmas tree will remain etched in my memories when I’m old.
What’s etched into my waist is the 2 pounds of cheese I knowingly over-indulged in. I used to manage a fancy cheese case at a deli in my college town, and any chance I get to put together a cheese board, I do so with great gusto…and appetite. At some point, I’m sure my ticker will stop loving it as much as my taste buds do, but until the doctor stands me down, I’ll take my chances on the once or twice yearly indulgence of too much cheese.
Like the states, it’s also common in Portugal to call those you love on Christmas day to wish them well and inquire about their Christmas. There’s one absolutely fantastic question I can’t recall being asked or asking in the US: “What are you eating?” It’s the epitome of Portuguese — being on holiday with full bellies salivating over each other’s meals. I won’t bore the English-only readers with names they’d struggle to pronounce, but since every Portuguese dish has a common name, just dropping the name in response to THE Christmas Question, elicits an “Mmm…” response. If you’re dying of curiosity, our Christmas dish was Polvo a Lagareiro (now you say “mmm…”). Ana did a stellar job.
It’s easy to think the question is funny and odd but isn’t it a much better question than “What did you get?”
Favorite Thing on the Interwebs Today
Say what?! Worth every one of the seconds it takes to watch this.
Bitcoin Price Prediction
Dec 24 - 28: $21k - $30k
Today: $26.1k - $28k
Tomorrow: $25.8k - $30k
Bitcoin conversations around the Christmas table brought in an unexpected wave of fresh buyers over the holiday leading Bitcoin’s price to daily new highs — yesterday stretching up past $28k! At the $28.5k mark, sellers stepped in to temporarily drive the price down as low as $25.8k. Price has been consolidating since and at the moment looks to be aiming for more upside. Today’s low of $26.1k looks to be set though I don’t see a break out past $28k happening today either. That said, a break out past $28k will likely take us quickly to $30k, the next major psychological hurdle. Just to repeat what I’ve said previously, a more substantial pullback is brewing. My suspicion is we’ll make it into the $30k - $36k region before it happens though.
Bitcoin Ed Bite
I’ve talked about Bitcoin’s price moves before and how it’s difficult to understand why it happens so quickly. For most, it looks like pure insanity that Bitcoin can move from $3000 to $28k in the same year.
It’s not, and it’s not magic I can assure you. How do I know this? Because Bitcoin has made these types of moves, in percentage terms, CONSISTENTLY throughout its history. What is different is that the absolute numbers are getting large enough to cause shock and awe from onlookers.
How can Bitcoin continue to move in such a dramatic fashion? Supply and demand. Bitcoin’s supply is so simple it’s hard to grasp, so I’m going to repeat it until everyone reading this starts seeing it in their sleep: 21 million bitcoin is all that can and will exist. As opposed to literally anything else in the world, when the price goes up, producers will supply more of that thing driving the price down. But since there’s NO ABILITY to create more bitcoin past the fixed-rate defined in the protocol, the supply side doesn’t change until people holding bitcoin decide to sell. Number go up! Up! UP!
Thanks for reading,
Kent
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