Sell Bitcoin in May and Go Away? Ominous June Event Could Cause Crash

Tony "The Bull" Severino

Last Updated: April 28, 2020 8:00 pm

2 mins read

Reason to trust

Strict editorial policy that focuses on accuracy, relevance, and impartiality

Created by industry experts and meticulously reviewed

The highest standards in reporting and publishing

How Our News is Made

Strict editorial policy that focuses on accuracy, relevance, and impartiality

Ad discliamer

Morbi pretium leo et nisl aliquam mollis. Quisque arcu lorem, ultricies quis pellentesque nec, ullamcorper eu odio.

Bitcoin price action has been positive over the last few weeks, following the Black Thursday collapse last month. Crypto investors have been breathing a sigh of relief that a higher low was set just ahead of the halving.

However, could an unusual astrological event coming this June cause another collapse of a similar magnitude?

The Invisible Factors Driving Bitcoin Price Action

Bitcoin is a financial asset unlike any other, but it still is bound to normal market dynamics, such as supply and demand.

Other factors do impact the price of assets beyond an imbalance of simple supply and demand and can include anything from political changes, environmental issues, a pandemic like the coronavirus, and even key dates on the calendar.

Dates are of particular importance, and for example, phrases have been developed such as “sell in May and go away” because they recur with such accuracy and frequency.

According to an upcoming astrological event that in the past has been a dangerous omen for Bitcoin price, selling in May and going away may be the best strategy forward.

Could Mercury in Retrograde Cause Yet Another Crypto Market Collapse?

On June 18, through July 12, Mercury will be in retrograde. All this means on the surface, is that in the night sky, Mercury gives the appearance of traveling backward, which is said to have an impact of setting back individuals in some way.

There exist dozens of tips dedicated to dealing with and coping during the trying period. It is said to lead to disagreements and miscommunication, such as disagreeing on what the fair market value of Bitcoin is.

But why is Mercury entering retrograde so destructive for Bitcoin? Looking back, the astrological time period has not been kind to the first-ever cryptocurrency.

Over the entire bear market, only one period of Mercury in retrograde didn’t lead to a major price decline. It was also Mercury in retrograde that caused the November 2018 collapse to Bitcoin’s bottom.

Interestingly, and giving credence to the impact of the astrological event, the last Mercury in retrograde began on February 17, just two days following Bitcoin topping out over $10,000.

It also ended on March 10, exactly two days before Bitcoin fell by nearly 40% in a single day to under $4,000, on a date now known as Black Thursday.

Given the destruction the last Mercury in retrograde caused, selling in May following Bitcoin’s halving could be the smartest strategy.

However, the one time that Bitcoin pumped during Mercury in retrograde, it took the asset to over $14,000 just a few months later – so anything is possible, and upside cannot be ruled out.

Featured image from Pixabay

Tony "The Bull" Severino

Tony "The Bull" Severino, CMT, is a distinguished figure in the cryptocurrency analysis sector, renowned for his in-depth technical expertise and innovative approach to market trends. As the Head of Research at NewsBTC, Tony leads a team dedicated to providing cutting-edge insights and forecasts, helping both novice and experienced traders navigate the complexities of the crypto market.
A seasoned Chartered Market Technician, Tony's prowess in identifying and capitalizing on market patterns is unmatched. His academic and professional journey in market analysis has firmly established him as a leading authority in technical trading strategies. Tony’s approach is heavily influenced by the principles of Elliott Wave Theory, a method known for its rigorous assessment of investor psychology and price movements.

Beyond his role at NewsBTC, Tony is the visionary founder of CoinChartist.io, an educational platform aimed at demystifying the nuances of cryptocurrency trading. CoinChartist.io serves as a valuable resource for traders seeking to enhance their technical analysis skills. The platform offers a range of learning tools and resources designed to empower traders with the knowledge to make informed trading decisions.

In addition to his educational initiatives, Tony is a prolific author and a dominant voice in the crypto community. He writes the CoinChartist VIP newsletter, a weekly dispatch that has become a staple among crypto enthusiasts, revered for its insightful analysis and actionable trading advice. This newsletter has consistently ranked as a best-seller on SubStack, boasting thousands of subscribers who rely on Tony’s expertise to guide their trading strategies.

Tony is also celebrated for his literary contributions to the field. He is the author of the highest-rated Crypto Trading Journal on Amazon.com, a testament to his ability to communicate complex trading concepts in an accessible manner. This journal is widely regarded as an essential tool for traders aiming to track their progress and refine their strategies.

Before his ascent in the financial analysis world, Tony honed his skills in journalism. His background in this field has endowed him with a unique ability to present intricate market dynamics in a clear and compelling manner, making his insights highly sought after by a broad audience that ranges from casual readers to professional traders.
His professional affiliations underscore his commitment to excellence and continuous learning. As a partner of Elliott Wave International and TradingView, Tony collaborates with other leading experts to enhance his knowledge and skills. His active membership in the CMT Association further aligns him with the highest standards of industry practices and ethics.

Tony’s nickname, "The Bull," aptly reflects his aggressive and optimistic outlook on the cryptocurrency markets. His forecasts often anticipate significant upturns, earning him a reputation for bullish predictions that have frequently led to lucrative outcomes for those who follow his advice.

In summary, Tony "The Bull" Severino, CMT, is more than just a technical analyst; he is a mentor, educator, and innovator whose influence in the cryptocurrency space continues to grow. His dedication to advancing the understanding of market forces and his commitment to providing high-quality, reliable analysis make him a pivotal figure in the world of cryptocurrency trading.