Will Mercury Retrograde Bring Bitcoin Sentiment Shift?

Bitcoin is in free fall, just as Mercury goes retrograde for the second time in 2022. Astrological events have been blamed on various misunderstandings and technology-related issues.It also appears to be associated with major mood changes and pivot points bitcoin price.

As another phase of Mercury retrograde begins today, let’s take a look at how the planet-related phenomenon affects the price action of cryptocurrencies as a whole.

What is retrograde Mercury?Check astrological events

Mercury’s retrograde period begins today and runs until June 2, 2022.according to The Old Farmer’s Almanac“Mercury retrograde” is a 3-yearly event in which the planet appears to “suddenly change direction and begin moving in the opposite direction across the sky.”

Interestingly, its appearance is closely related to the moment when Bitcoin’s price action “suddenly changed direction.”

Related reading | Bitcoin Perfectly Follows Market Cycle Comparison, What’s Next for Crypto?

The planet, like the Roman messenger god for which it is named, is said to govern communications, including technology, trading, and even contracts such as options and futures. If you find yourself suddenly having problems with your computer or typo in a text message in the next three weeks, it’s Mercury’s fault.

But back to Bitcoin. The top cryptocurrencies have shown significant sentiment shifts and pivots when the retrograde period arrives. Take a look.

What will Mercury in retrograde bring? | Source: BTCUSD on TradingView.com

Why Bitcoin may see a shift in sentiment and how math is involved

Notable moments of Bitcoin price action that have coincided with the Mercury-driven chaos include a 2017 bull market peak, a bear market bottom slump, a 2020 pre-bull breakout, and even the most recent January 2022 low just taken out the day before the retrograde.

Since not all shifts in investor sentiment during this period have been negative, it is not known what will come next – only this period will yield dramatic results. The bears want to push the price even lower, while the bulls want to target closer to where Mercury is in outer space.

Related reading | Time and Price: Why This Bitcoin Correction Is the Most Painful

As for why Mercury might have an effect on those of us on Earth, well, it boils down to math.solar system with Fibonacci sequence – A tool often used to predict market price action.

For example, a year on Earth is 365 days, or almost a full 360-degree circle. 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, which is roughly the 0.236 Fibonacci ratio of the Earth’s cycle.

Could this close relationship with Fibonacci be the reason why Mercury has such a powerful influence on us on Earth?

BTCUSD_2022-05-10_16-33-33

Mercury goes retrograde as Bitcoin retests the golden ratio. Coincidence? | Source: BTCUSD on TradingView.com

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Featured image from iStockPhoto, Charts from TradingView.com



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