Bitrabo Editorial
Bitcoin investors often explore various factors to predict the cryptocurrency’s future price movements. Astrology has been gaining popularity within the Bitcoin and crypto community, with astrologers analyzing how celestial events might impact BTC’s price. One such event is “Mercury in Retrograde,” which analysts suggest could have implications for Bitcoin’s price trajectory.
Understanding Mercury in Retrograde’s Impact on Bitcoin
In astronomical terms, “Mercury in Retrograde” signifies a period when the inner planet alters its orbit around the sun. During this phase, Mercury appears to reverse its usual east to west movement, creating an illusion of backward motion. This astrological phenomenon typically lasts for a few weeks before Mercury resumes its regular orbit.
From an astrological perspective, particularly in Western astrology, “Mercury in Retrograde” carries more profound meanings. Followers of this belief system perceive this period as unfavorable for commencing new endeavors, such as starting a job or a business. It is thought to be a time when plans may encounter delays or obstacles.
One cryptocurrency analyst, PS Trade, has connected this astrological occurrence to Bitcoin’s price trends. The analyst has identified a recurring pattern in Bitcoin’s price movements during Mercury in Retrograde cycles. Specifically, PS Trade has highlighted a “coincidence” that seems to coincide with fluctuations in the Bitcoin price whenever Mercury enters Retrograde.
The analyst has delineated two distinct cycles of 4 and 9 during Mercury in Retrograde, with the former indicating bearish trends and the latter suggesting bullish tendencies. PS Trade suggests that the 4-cycle pattern often signals a continuation of bearish trends, whereas the 9-cycle pattern indicates a potential extension of the current bullish trajectory.
Currently, with Mercury going Retrograde from August 6, 2024, until August 28, 2024, there may be anticipation for a sustained price recovery. As per the analyst’s findings, Mercury is presently in its fifth cycle, surpassing the 4-cycle bearish phase, which could indicate a market correction.
According to the analyst’s projections, the Bitcoin price is anticipated to experience a consistent upward trend in the upcoming year. This recovery trajectory could propel the Bitcoin price to record highs, potentially reaching close to $1.3 million by November 2026.
Should Bitcoin align with these forecasts, it could potentially surge by over 2,000% in the next couple of years, catapulting the crypto market past the $10 trillion market cap, with altcoins likely benefiting from this market surge as well.