Bitcoin can often be unpredictable. At times, it takes off on parabolic rallies for seemingly no reason at all, and other times, it could have every bullish factor at its back and still fall to new lows.
Analysts try to make rhyme and reason of this through fundamental and technical analysis. But could the key to understanding Bitcoin price cycles rest in the stars, the moon, and the planets above us?
Can Astrology Predict Bitcoin Price Cycles?
Before there were books, computers, the internet, and a wealth of knowledge and history to pull information from, the earliest thinkers looked to the stars, the sun, the moon, and the planets to try and make sense of it all.
The calendar was developed based on the orbit of the Earth, and its rotation controls what we know as time.
Related Reading | The Fate of Bitcoin Rests On This Seven-Year Secular Bull Market Support
Everything in space is cyclical. Planets orbit the sun and rotate around the solar system. Comets even come and go every several years.
Could figuring out Bitcoin price cycles be as simple yet complicated as astrology?
Some of the greatest traders to ever live, such as the legendary W.D. Gann, regularly used astrology as part of their analysis and found extreme success using such methods.
A new-age crypto analyst who utilizes theories based on Gann’s early teachings has discovered an unusual correlation between Mercury in retrograde going “direct” and major Bitcoin price rallies.
When Mercury is in retrograde, it appears to be traveling backward through the night sky. This occurs just three times each year.
During these phases, “coincidences can be extraordinary.” The planet is said to rule communication, travel, contracts, automobiles, and the like.
It’s recommended that everyone should “wait until Mercury is direct again to make any final decisions.” This is because Mercury in retrograde tends to coincide with extremely negative situations.
Since Mercury first went into retrograde on February 16, Bitcoin has collapsed by 25%, the stock market saw the worst drop since the last recession, and coronavirus fears have spun completely out of control.
Interestingly, travel is indeed impacted, which isn’t surprising considering the aspects of life that Mercury is said to govern.
Tomorrow, Mercury goes direct once again, and it could cause a major rally in Bitcoin as investors naturally are ready to make their “decision” about the cryptocurrency’s future.
Will Crypto Rally When Mercury Goes From Retrograde to Direct?
According to the crypto analyst who includes astrology in their analysis, Bitcoin is highly likely to rally from here. And a chart depicting the price action after each time Mercury goes direct certainly appears to back up this theory.
Mercury Retrograde goes Direct tomorrow!
Follow the green arrows and don’t mind the price, my chart hasn’t updated, green arrows point to Mercury going Direct all other times, notice the price action that follows.#GANN #ASTRO #BTC pic.twitter.com/Vbf4fiZwsX
— TheGANNMan! (@CryptDoMillons) March 9, 2020
Each time Mercury goes direct after being in retrograde, Bitcoin tends to rally, as indicated by each green, left-facing arrow.
Even Bitcoin’s 2019 parabolic rally was the result of Mercury going direct following its period of retrograde.
The evidence certainly appears to suggest there’s credence to the theory, but could it all just be a coincidence? Astrology is very subjective and a study that most folks are rightfully skeptical of.
Because the analysis is based on such an unusual and out there theory, its best to take with a grain of salt.
For those that believe, the next times Mercury goes into retrograde are fro June 18 to July 12, and from October 14 to November 3.