Bitcoin pumps 20% this week – is it upon rumors of war?
Hey there UCommunity, it’s Bitcoin on a breakout this week by the look of the charts. In fact for the past four days we have seen price steadily climbing, after a quick dip below the big even psychological resistance of $7000 on Bitcoin’s 11th birthday. The 3rd of January was the 11th anniversary of the Genesis block launched by Satoshi Nakamoto, the fabled unknown father of Bitcoin and blockchain technology. Since his birthday Bitcoin has been growing up steadily, almost a teenager now. But more directly price has climbed around 20% over the past 5 days since then, and it has pulled some of the alts up with it too.
Not that there hasn’t been a simultaneous earth-shaking military clash, making one wonder if external political events have anything to do with the sudden spike. After all, gold has made the same jump, along with oil, all directly correlated to the political blunder by USA against Iran. These criminals are ruining our peaceful lives on the planet by rattling there sabres while we are trying to hear the sounds of our sitar. How are we supposed to mediate in peace with rumors of war covering the globe?
Even if Bitcoin was to rocket to the moon, it’s not fair to incite a war to cause it. Correlation does not mean causation all the time, but this time it’s hard not to see them related. If the entire financial world is shaken by the military crimes of America in Iran and Iraq now then obviously Bitcoin will also be affected. And war may be good for the military industrial complex, but it is not good for my meditation, so I object to the disturbance to the planetary frequency.
I could hide under a bushel or in a cave where there is no wifi but then how do I monitor the Bitcoin price? In the long run I will happily retreat to a cave to spend my last years in meditation away form the world of the mundane money-chasing and shallow preoccupation with consumerism. And this sort of war crime by the USA will push me there faster, now that Iran is about to retaliate and the trigger has already been pulled on the gun...boom boom. Way to go Ratheon, Lockheed Martin and other weapons makers. Prop up the dying economy of North America which has already been destroyed by the criminal banking elite.
I feel the pangs of war, it unsettles me and brings out the warrior in me, triggers my fight or flight mechanism that is already on overdrive, with an over-reactive adrenalin response probably due to early stress in life, or maybe growing up in a war zone with troops on my national border for the first two decades of my life, and the spectre of military conscription. I lived in a war zone all of my childhood, called South Africa. So my blood boils very easily and it’s hard to keep cool, calm and collected when the drums of war are being beaten. Therefore, even more reason for my lifestyle choice of meditation.
That being said, Bitcoin is pumping and giving me the mixed feelings of “hopium” and FUD simultaneously. Blame it on the moon in Gemini today. With Trump being a Gemini, you never know what to believe when he speaks with his forked tongue. If I have to head for my cave, then I will need to have wifi access. So the good news is that Elon Musk, our fellow South African, has just launched yet another of his Falcon rockets with a number of satellites, so that they can improve the global internet facility. That and mass surveillance of course. Such is the double edged sword of technology.
But with the mass release of satellites, the blockchain can be kept up and running because if the world goes to war nowadays, it won’t be like WW2, but something far more difficult to contemplate. We are in a digital electronic cyber world now, where everything is dependent on wifi to work. Including the blockchain, and thus Bitcoin trading and use. In a war scenario the grid may be hit, an EMP will knock out a nation’s power plants, nuclear reactors, water system and communication easily. No more internet today will be like no more bread in WW2. People will crack. We are so dependent on internet now, on all levels, that it would break us, generally.
We won’t know what to do with ourselves. Even today, here in shady South Africa, my current electric power supply is precarious, I never know if it will be on today or not, and even if it is on, my wifi is sporadic, like it is today, where I can’t upload or download picture files very easily although some sites still open. No Facebook, that’s for sure. It’s already dodgy here living on the edge...of the continent, the land mass, the economic breadline, the social sector, a white face in blackest Africa. And now the edge has just become sharper. Life on the verge of WW3 is like a razor’s edge – there is danger at every step.
So concerns about how to upload my little old blog post today are a trivial sidebar to the main event of... survival. Anyway, we soldier on, grit our teeth (vasbyt) and watch Bitcoin make a small pump, as is to be expected after so much sideways movement. At $8300 now, Bitcoin looks set to push on up to the top of the long term descending channel formed since June last year when price peaked at $14000. At this point of resistance around $8300 we will see if this is a real breakout to the upside or just another topout at the downtrend resistance, and a roll over to collapse back down once more, just like so many times before. With the RSI on the 4 hour chart up in overbought above 80, this could be a big pump guys, or a topout. The long term descending channel is being tested as I write this and... let’s watch and see.
Don’t let my disturbed rambling bother you in today’s post here. I’m probably just a bit mental with the Moon in Gemini today and the war drums in the background. The dogs may bark but the caravan will pass.
Is is a Musk Falcon Spacex rocket, is it a missile for the Iranian general, no it's Bitcoin lifting off to the moon! (Pic from PIxabay).