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In the last 24 hours, the Bitcoin price has jumped over $1,000 from a low of $28,526 to $29,541 at time of writing.
At one point, it had gained some $1,500. Between 6 and 8 am this morning, Bitcoin skirted above $30,000 twice.
Bitcoin has nearly doubled in price since the lows seen after FTX and with everything that's going on, it seems to me that Bitcoin is set to rise higher for safe haven demand. According to MilkRoad.com, close to 1 million Bitcoin wallets now hold at least one full Bitcoin. There's only so much of it to go around so can you imagine the jump in price if a million wallet owners decided to buy even a small fraction of a Bitcoin in a time of panic buying? Many of these include millionaires and billionaires.
Remember when Bitcoin was over $19,000 in 2019? It more than tripled in 2021 in the midst of the worldwide lockdowns. Since then, well, things haven't gotten any better and the debts just keep piling up, along with more war. From here, Bitcoin may actually hit the 6 digit range in relatively short order. Just guessing...
Gold is also seeing some serious safe haven bidding and appears on its way back above $2,000 after rising $50 per ounce in the last two days.
Silver is coming to life as well!
The USD is still holding above 106 while oil hasn't moved much, gaining less than 1%.
The world is changing fast. I'm one of those people you might call a 'prepper'. Being Canadian, I've experiencing many long, cold winters and a few power outages. As with many Canadians, I tend to stock up for the winter, every winter. This also includes having a bit of cash on hand, batteries, candles and such. Earlier this week, I filled up a couple of small gas cans and a propane tank and had my winter tires put on last week.
One more thing to add to the checklist. Buy $100 worth of Bitcoin. It's all I can afford. Boohoo.
And hey, I have a new sponsor! Milk Road's real-time Bitcoin price chart can come in handy and their daily email updates are chock full of great information and amounts to just 5 minutes of your time. Click here or the link below and see for yourself.
Peace and love to everyone!
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Previous Posts:
How quitting potato chips helped with weight loss.
Are we witnessing the 'Event That Will Change The World'?
Gold skyrockets back above $1,900.
The tragedy unfolding in the Middle East.
U.S. national debt surpasses $33 Trillion.
Japanese Yen hits record low against gold.
Central bank gold buying spree not slowing down.
Oil prices in gold remarkably stable for last 70+ years.
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