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Just a quick update on Bitcoin's price movements.
One week ago at this time, Bitcoin was at $16,825. Looking at the one week chart at BitcoinPrice.com, that was when the Bitcoin price began a slow ascent. Since Tuesday though, Bitcoin's value against the USD accelerated, especially just before and after yesterday's print in the U.S.A. which shows services inflation to be at 40+ year highs. Bitcoin flew past the $18,000 mark yesterday and overnight, continued its ascent to add another $1,000 and now sits at $19,051.
$2,000+ increase in just one week. Very impressive. Not the same for gold and silver. The usual suspects (COMEX / LBMA) were at it again from the very moment the CPI print was published. It is all too obvious as can be seen below in the chart provided by Kitco.com. Gold and silver tried to jump up along with Bitcoin but as can be seen from the red line for yesterday's tracking, the gold price was smacked down almost as soon as the CPI numbers came out just after 8 a.m..
It looks like the gold bugs managed to bring the price back up but even then, look at how gold just couldn't pass the $1,900 mark for the rest of Thursday's session. Somebody doesn't want gold to rise. Is it to allow the Central Banks (China???) around the world to purchase more gold on the cheap? More and more people are asking questions. I know I am!
Silver finally was able to breach $24 but it was one hell of a fight. Let's see how long it takes before it gets smacked back down again. The chart below shows they did this twice in the last couple of days and right around the same time too. Somebody doesn't want silver to rise.
, which peaked at 114.188 on September 27, 2022 has since been on a steady decline, more sharply so since the FTX scandal broke out. Yesterday, the dollar fell below 103 and at time of writing, 102.247, an almost 12 point decline in less than 4 months, or about 10%. Gold and the USD are each other's nemesis. If the dollar continues to go lower, we should expect gold to rise further.
Amazing, now that I'm closing off, I just had a final look at the Bitcoin price and it rose even further to $19, 256!
Peace and Love to everyone.
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