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.
What Is Mercury In Retrograde? Examining The Astrological Event
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.
What will Mercury in retrograde bring? | Source: BTCUSD on...