Will Mercury In Retrograde Bring A Mood Shift In Bitcoin?

Bitcoin is in free fall, just as Mercury goes retrograde for the second time in 2022. The astrological event is blamed for all kinds of miscommunications and technology-related issues. It also appears to have a correlation with major mood shifts and pivot points in Bitcoin price.

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.

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.”

The planet, like the Roman messenger god it is named after, supposedly rules communications, which includes technology, transactions, and even contracts such as options, futures, etc. 

If you notice sudden computer problems over the next three weeks or issues stemming from a mistyped text message, it is Mercury to blame.

But back to Bitcoin. The top cryptocurrency has shown major mood shifts and pivots precisely when the retrograde period rolls around. Take a look.

Notable moments in Bitcoin price action that coincided with Mercury-driven mayhem include the 2017 bull market peak, the plunge toward the bear market bottom, the breakout just before the bull run in 2020, and even the most recent lows in January 2022 that were only just now taken out a day ahead of 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. 

Bears are hoping to push prices down to further lows, while bulls are hoping for targets closer to where Mercury resides in outer space.

In terms of why Mercury might have an impact on those of us on Earth, well, it could come down to math. 

The solar system has interesting and unusual relationships with the Fibonacci sequence – a tool often used in predicting price action in markets.

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