Over the years, Bitcoin investors have used a number of factors and events to predict where the cryptocurrency’s price will go. Given the popularity of astrology, it’s also no surprise that it has found its way into the Bitcoin and cryptocurrency industries, with astrologers beginning to apply it to BTC’s price movements. One of the major events in astrology is “Mercury Retrograde,” and the analyst described how it could affect the price of Bitcoin.
What Mercury Retrograde Does for Bitcoin
In scientific terms, “Mercury retrograde” refers to a period of time when the inner planet changes its orbital course around the sun. During this time, its motion appears to be reversed, with the planet moving from east to west instead of its usual west to east motion. This phenomenon usually lasts only a few weeks before the planet corrects its motion again.
However, in astrology, especially in Western astrology, there are more significant implications for “Mercury Retrograde.” First, those who follow this school of thought believe that this may be a bad time to start something up-to-date. It could be a up-to-date job or a up-to-date venture. Astrologers believe that plans will be put on hold during this time.
One crypto analyst, PS Trade, has now taken the astrological phenomenon and attributed it to Bitcoin’s price movements. Specifically, the crypto analyst has scratched a particular “coincidence” that seems to repeat itself in Bitcoin price whenever Mercury is in retrograde motion.
The analyst presents two different cycles 4 and 9, with the latter being bearish and the latter more bullish. PS Trade explains that 4 cycles of Mercury retrograde usually mean a continuation of the bearish trend. However, 9 cycles of Mercury retrograde often means that the current uptrend will continue.
Currently, with Mercury going retrograde on August 6, 2024 and expected to last until August 28, 2024, there is hope for a continuation of the price rebound. As revealed by the analyst, Mercury retrograde is currently in its fifth cycle, which is outside the bearish 4-cycle range, signifying a correction.
Hence, the cryptocurrency analyst chart shows a steady price raise next year. This rebound is expected to occur Bitcoin price hits up-to-date all-time highsreaching a price of just under $1.3 million in November 2026.
If Bitcoin price follows this forecast, it will raise by over 2000% in the next two years. In that case, the cryptocurrency market will break through $10 trillion in market capitalization, taking the altcoin market with it.
Featured image created with Dall.E, chart from Tradingview.com
