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Home Cryptocurrency news Bitcoin

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

Tony Spilotro by Tony Spilotro
9 months ago
in Bitcoin, Cryptocurrency news
Reading Time: 2min read
Sell Bitcoin in May and Go Away? Ominous June Event Could Cause Crash
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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.

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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.

Related Reading | TGIF: Do Fridays Foretell Future Movements in Bitcoin Price and Other Crypto? 

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.

Related Reading | Mercury in Retrograde: Can Astrology Predict Bitcoin Price Cycles? 

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.

bitcoin price chart

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.

bitcoin price chart

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
Tags: astologybitcoinbtcusdmercury in retrograde
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Tony Spilotro

Tony Spilotro

I'm Tony Spilotro. Behind the pseudonym, I'm a digital media executive and global remote work leader with a decade of content experience and excellent. Here, I explore my newfound passions pertaining to privacy, finance, economics, politics, cryptography, property rights, and other libertarian-esque views. I am a Bitcoin evangelist, maximalist, and educator whenever I can be, helping to spread its message of freedom from government control, monetary policy mismanagement, and passing the buck - literally – to future generations. My journey from a curious retail crypto investor to a serious Bitcoin advocate, trader, and technical analyst is an unusual one, but life-changing nonetheless and has become less about money and more about a long-overdue revolution. While a firm believer in the laws governing math and science, I am profoundly fascinated by the impact of astrology and astronomy including moon and solar cycles and planetary alignment and their ability to influence and potentially predict markets. It hasn't yet clicked for me as to how to put anything to use, but I consider it my current rabbit hole I can't yet dig out of. My perspective of growing up alongside the internet, the dot com era, the Great Recession, and roots in video games collecting coins and rare items caused Bitcoin to immediately make sense to me. Through all of these lenses, I seek to produce content that is educational and entertaining, and I thank you sincerely for taking the time to read what I have to say. Please follow me on Twitter and feel free to drop me a line if you would like to work together.

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