Do you use ‘astrology’ to predict the price analysis of crypto assets? Yes, it may sound a little ‘ridiculous’ or ‘interesting’ but there really is an analyst who uses this method. Did you know that the Trading View platform even has a ‘moon phases’ indicator for traders and traders doing this type of astrological analysis?
Those who want to know more about this Laura Shin During uncertainty and price drops, a journalist named Bitcoin (BTC) and astrologer and trader who want to know Ethereum (ETH) price Maren Altman conducted an interview with
Signs from the Sky
Altman stated that he uses astrology as an element in his fundamental analysis and technical analysis. Starting from Bitcoin, the analyst stated;
“…I know we have been in a correction lately (around November 19th, 20th). And this was expected since there was a lunar eclipse… I don’t think we’re done yet, I don’t think November-December will be in a downward trend. I see we’re running until November 26-30, [bu] quite a rise time.”
Altman added that he disagreed with PlanB’s ‘stock-flow prediction’ that Bitcoin will reach $98,000 by the end of November.
“I don’t even see us hit $98,000 by the end of the year. I think 75, 80k is a pretty reasonable level.”
But as for Ethereum, Altman claimed that the ‘planetary graph’ for this crypto is almost the opposite of Bitcoin. He stated the following about the price performance of Ether:
“…end-of-year challenges will include a Venus retrograde directly conjunct Pluto on top of Ethereum’s moon (speaking of the moon, ETH’s moon).”
To summarize this comment, Altman noted that he sees a “harder” fix for Ethereum than Bitcoin if corrections do happen.
Ethereum Goes to the Moon; Really to the Moon!
As we mentioned earlier, the moon phase metric in Trading View is based on some traders’ belief that going from a full moon to a new moon or vice versa can be associated with bullish or bearish movements. It’s November 19 (full moon day) and if the metric is correct, there should be a price increase in the next few days.
While a November 26 chart shows that November 19 has welcomed a green candle, it’s still too early to say whether the rally is definitive.
However, fundamental analysis is something that goes far beyond astrology or even selective measurements. With the news spreading about a new COVID-19 variant dubbed the “nu” variant, some traders have claimed that crypto drops have already occurred.
Covid has been around for almost two years now, and it is not going anywhere. It is here to stay.
Pretty silly that the markets would have a negative reaction to it at this point. #bitcoins #crypto
— Lark Davis (@TheCryptoLark) November 26, 2021
Bitcoin fell 6.97% in 24 hours, while Ethereum saw a 8.21% drop.
Disclaimer: What is written here is not investment advice. Cryptocurrency investments are high-risk investments. Every investment decision is under the individual’s own responsibility. Finally, Koinfinans and the author of this content cannot be held responsible for personal investment decisions.