{"id":108370,"date":"2021-01-14T06:42:14","date_gmt":"2021-01-14T06:42:14","guid":{"rendered":"https:\/\/precoinnews.com\/?p=108370"},"modified":"2021-01-14T06:42:14","modified_gmt":"2021-01-14T06:42:14","slug":"when-to-trade-bitcoin-when-saturn-crosses-mercury-of-course","status":"publish","type":"post","link":"https:\/\/precoinnews.com\/markets\/when-to-trade-bitcoin-when-saturn-crosses-mercury-of-course\/","title":{"rendered":"When to trade bitcoin? When Saturn crosses Mercury, of course"},"content":{"rendered":"

LONDON (Reuters) – Bitcoin seems so flighty, some might argue you may as well consult a crystal ball, read the runes or stare at the stars to divine the direction of the capricious cryptocurrency.<\/p>

Slideshow ( 2 images )<\/span><\/figcaption>

Enter Maren Altman, bitcoin investor and astrologer.<\/p>\n

The New Yorker has been following the movements of celestial objects to predict bitcoin price fluctuations since last summer. And while many people might mock her methods, she has built up a 1 million-strong social-media following on TikTok.<\/p>\n

Last week, the 22-year-old told her followers to watch for a price correction on Jan. 11.<\/p>\n

Why? Saturn was going to cross Mercury.<\/p>\n

Lo and behold, bitcoin fell as much as 21% on that day, before recovering most of its losses, slamming the brakes on a meteoric rally that saw it double from early December to a record $42,000 last week.<\/p>\n

\u201cI am never going to tell someone to buy this or that,\u201d said Altman. \u201cI can predict price trajectories but do not claim to be a financial adviser aware of someone\u2019s specific circumstances, and therefore never give buy or sell advice.\u201d<\/p>\n

For the uninitiated, Mercury represents bitcoin\u2019s price data and Saturn is a restricting indicator.<\/p>\n

While many people might give Altman\u2019s analysis as much credence as any fortune-telling, she is among a growing cohort of young TikTok influencers who began posting content on cryptocurrencies as prices rallied in 2020.<\/p>\n

They\u2019re jumping on the bandwagon for bitcoin, whose mysterious movements even baffle many financial analysts, who say cryptocurrencies lack the fundamental data points used to assess traditional assets.<\/p>\n

\u201cI\u2019m a bit of a cynic when it comes to bitcoin projections,\u201d said Craig Erlam, an analyst at forex broker OANDA. \u201cI think it\u2019s just a selection of people clutching at straws, trying to justify any reasons to be bullish.\u201d<\/p>\n

Bitcoin has jumped over five-fold since the start of 2020, prompting investment banks to predict more future gains. Citigroup said bitcoin could hit $318,000, while JPMorgan Chase & Co tipped it to reach $146,000.<\/p>\n

So what do the stars have in store for the world\u2019s favourite cryptocurrency?<\/p>\n

\u201cI see some favourable indicators at the end of the month and especially February and early March,\u201d said Altman, whose readings of bitcoin\u2019s astrology charts are based on the date for the coin\u2019s genesis block, the equivalent of its birthday.<\/p>\n

\u201cHowever getting into mid-March, I see a big correction. Mid-April is also really less optimistic. May is bullish.\u201d<\/p>\n

Source: Read Full Article<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

LONDON (Reuters) – Bitcoin seems so flighty,<\/p>\n","protected":false},"author":3,"featured_media":108369,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[23054],"tags":[],"yoast_head":"\nWhen to trade bitcoin? When Saturn crosses Mercury, of course - Pre Coin News<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/precoinnews.com\/markets\/when-to-trade-bitcoin-when-saturn-crosses-mercury-of-course\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"When to trade bitcoin? 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