Bitcoin is again. On the time of scripting this content material, the worth of BTC is buying and selling at US $ 38,200, after having touched 40Okay final night time. The volatility has returned.
Whereas it’s too early to say that we’re in a short-term turnaround, hope has returned. To verify that the bulls have taken management of the scenario, BTC should overcome the important thing resistance of 41.5K.
Apparently the rise is because of a powerful liquidation of shorts, as might be seen within the graph under:
Chart with quick settlement in Bitcoin futures. Supply: Glassnode
Now, absolutely there have to be another issue behind that has precipitated the huge liquidation of shorts within the futures market.
Whereas the “fundamentals” that justify the robust rise of Bitcoin seem in only a few minutes, I’ll inform you about one other issue that could be influencing the rise of the main cryptocurrency: Moon.
Can the worth of Bitcoin be predicted with the moon phases?
There are lots of ingenious explanations of how the worth of Bitcoin strikes, however absolutely the lunar phases are on the high. You don’t consider me? Have a look at the graph under.
White dots: Full moon Black dots: New moon Graph of the evolution of Bitcoin in 2021. Supply: TradingView
Within the graph it may be clearly seen that for the reason that starting of the yr each time there’s a full moon the worth of Bitcoin tends to rise, not less than till it adjustments to the brand new moon. Mere coincidence? Every reader can draw their very own conclusions.
Final Friday at 23:23 (Argentina time) a full moon started, coinciding precisely with the final bullish rally of Bitcoin.
Personally, I nonetheless belief the technical / basic evaluation when investing in Bitcoin, however that doesn’t imply that you may stick your head out and see the state of the moon …