After a short stint below $50,000, Bitcoin price is back on its way higher, already reclaiming as high as $53,000 and then some. Also tonight, there is a rare full “pink” moon in Scorpio – signaling powerful change in process currently and possibly ahead.
Whether you believe in the impact of astrology or not, the moon is full and can be proven just by looking up in the sky. What’s left for you to decide is if the potentially mystical relationship between the placement of the planets has anything to do with crypto market price action. Let’s take a deeper look at the suddenly popular subject matter.
Bitcoin Price, Moon Phases, And Bull Rallies Examined
Bitcoin is back to flying high, on the same “moon” mission it started back on March of last year. Since then, the trajectory has been “only up” until very recently when the trending cryptocurrency had its largest correction yet.
From highs of $64,000 Bitcoin plummeted to under $50,000, wiping out more than 20% from the price per coin. All of this could have been predicted with some degree of accuracy using moon phases, according to recent crypto celeb Maren.
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Maren is part of a growing segment of cryptocurrency enthusiasts and even traders that also include astrology in their studies alongside technical indicators, chart patterns, and blockchain analysis.
People are quick to discount astrology as nonsense, but many also say the same about technical analysis. The below moon phase chart offers undeniable evidence of at least some astro-related ebb and flow.
Moon phases have an undeniable impact on the crypto market | Source: BTCUSD on TradingView.com
Crypto Astro And The Sting Of The Pink Scorpion Moon
Notice in the chart above, that the full moon hasn’t yet appeared. That’s because it arrives this evening around when the daily candle in Bitcoin price closes. And already, the top cryptocurrency is right back in orbit. Previous full moons highlighted above result in phases of green upside. New moons tend to lead to downside – even marking the recent peak.
Whether or not that peak is the top of the bull market is left for time to decide. It is worth noting that whatever is happening, could result in some significant “change.”
Tonight just so happens to be a pink full moon in Scorpio. According to NASA, the “April moon got its name after the herb pink moss, also known as creeping phlox, moss phlox or mountain phlox, which is one of the earliest spring flowers appearing in the United States.”
It is also called the Sprouting Grass Moon, the Egg Moon, the Fish Moon, the Paschal Moon, Hanuman Jayanti, Bak Poya, and this year is a supermoon. A supermoon occurs when the full or new moon is at its closest to the earth, or “is within 90% of perigee,” NASA says.
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Because supermoons are so close to the Earth, we tend to feel their effects more strongly. This moon is coming while in the mysterious Water sign of Scorpio. “When Full Moons take place in Water signs, the emotional intensity is heightened,” reads an except on MoonOmens.
From there like all things astrology, they get a bit more complicated and harder to swallow from there. A pink full moon in Scorpio is said to have powerful energy to bring forth change, especially through rebirth and destruction.
“The presence of Uranus, now conjunct the Sun in Taurus, adds an unpredictable element to the planetary configuration, highlighting the possibility of unexpected events, surprises, and changes of plans,” the site continues.
Will Bitcoin feel the sting of Scorpio? Or is this pink full moon in Scorpio about the rebirth of money, and the destruction of the existing fiat monetary system? The next time you speculate over crypto prices, don’t hold your nose up to astrology – it’s not all that different.
Featured image from Pixabay, Charts from TradingView.com