When to trade bitcoins? When Saturn crosses Mercury, of course By Reuters

2/2 © Reuters. Maren Altman, a 22-year-old astrologer, makes her predictions about bitcoin prices in New York 2/2

By Anna Irrera and Tom Wilson LONDON (Reuters) – It seems so frivolous that some might argue that you can also consult a crystal ball, read the runes, or look at the stars to guess the direction of the whimsical cryptocurrency. Enter Maren Altman, investor and bitcoin astrologer. The New Yorker has been following the movements of celestial objects to predict fluctuations in the price of bitcoin since last summer. And while many people may scoff at her methods, she has earned a million followers on social media on TikTok. Last week, the 22-year-old told her followers to be on the lookout for a price correction on January 11. Why? Saturn was going to cross Mercury. And lo and behold, bitcoin fell as much as 21% that day, before recouping most of its losses, slamming to a halt in a meteoric rally that saw it double from early December to a record $ 42,000 last week. “I’m never going to tell someone to buy this or that,” Altman said. “I can predict price trajectories, but I don’t pretend to be a financial advisor aware of someone’s specific circumstances, and therefore I never give buy or sell advice.” For the uninitiated, Mercury represents bitcoin price data and Saturn is a restrictive indicator. While many people can give Altman’s analysis as much credence as any guess, she is among a growing cohort of young TikTok influencers who started posting content about cryptocurrencies as prices rose in 2020. The moves even baffle many. financial analysts, who say that cryptocurrencies lack the fundamental data points used to evaluate traditional assets. “I’m a bit cynical when it comes to bitcoin projections,” said Craig Erlam, an analyst at forex broker OANDA. “I think it’s just a selection of people clinging to straws, trying to justify any reason to be optimistic.” Bitcoin has increased fivefold since the beginning of 2020, leading investment banks to predict more future earnings. Citigroup (NYSE 🙂 said that bitcoin could hit $ 318,000, while JPMorgan Chase & Co (NYSE 🙂 tipped it to reach $ 146,000. So what do the stars have in store for the world’s favorite cryptocurrency? “I see some favorable indicators at the end of the month and especially in February and early March,” said Altman, whose readings for bitcoin’s astrological charts are based on the date of the coin’s genesis block, the equivalent of his birthday. “However, in mid-March, I see a big correction. Mid-April is also less optimistic. May is bullish.”

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