Bitcoin’s freefall coincides with Mercury going retrograde in 2022. It is believed to be responsible for miscommunications, as well technology issues. The correlation appears to be with significant mood changes and pivot points in Bitcoin prices.
With today starting another phase of Mercury in retrograde, let’s take a look at how the planet-related phenomenon might impact price action across crypto.
How is Mercury in Retrograde Different? Analyzing the Astrological Event
Mercury’s period of retrograde motion begins today, and lasts through June 2, 2022. According to The Old Farmer’s Almanac, “Mercury Retrograde” is an event that happens three times per year where the planet appears to have “abruptly switched directions and has started to move in reverse across the sky.”
Interestingly, its appearance has been closely correlated with moments when Bitcoin price action has “abruptly switched directions.”
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Like the Roman messenger god Mercury, it supposedly controls communications. This includes transactions and technology. Contracts such as futures, options, futures, or other contracts are all possible. Mercury can be blamed for any sudden computer issues over the next three week or problems stemming form a mistyped SMS message.
Back to Bitcoin. The most popular cryptocurrency, Bitcoin, has displayed major mood changes and pivots just when retrograde occurs. Have a look.
What does Mercury's retrograde mean for you? Source: BTCUSD on TradingView.com | Source: BTCUSD on TradingView.com
The Reasons Why Bitcoin Could See A Mood Shift and How Math Might Involve
Mercury-driven madness was evident in notable Bitcoin price actions, including the 2017 bullish peak and plunge to the bearish bottom. The breakout just prior the bull run 2020. And even January 2022’s lowest levels, that are only now being taken out just a few days before going retrograde.
Since not all shifts in investor sentiment are negative when this period rolls around, there is no telling what comes next – only that the period can produce dramatic results. The bears want to see prices fall further, while the bulls desire targets nearer to Mercury in outer space.
Similar Reading: Time Vs. Price: Why this Bitcoin Correction was The Most Tough Yet| Time Vs Price: Why This Bitcoin Correction Was The Most Painful Yet
It could be that Mercury may have an effect on Earth’s inhabitants. The solar system has interesting and unusual relationships with the Fibonacci sequence – a tool often used in predicting price action in markets.
A year on Earth, for example, is approximately 365 days. This corresponds to almost 360 degrees. A year on Venus is 225 days, which is roughly the 0.618 Fibonacci ratio of Earth’s cycle. A Mercury year is 87.97 days, and is roughly the 0.236 Fibonacci ratio of the Earth’s cycle.
Could this close relationship with Fibonacci be the reason for Mercury’s extra-powerful impact on us here on Earth?
Mercury moves retrograde while Bitcoin testifies to the golden ratio. Source: BTCUSD on TradingView.com Coincidence? | Source: BTCUSD on TradingView.com
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