HOME CATEGORIES WRITE AND EARN 🔍
CATEGORIES WRITE AND EARN MORE

CRYPTO NEWS

Your favorite crypto news blog

Full Moon: Will Bitcoin Break Out During Today’s Celestial Event?

Bitcoin 2020/05/07 18:00 by Tony Spilotro
Bitcoin’s halving is less than one week away. The crypto asset is trading at the top of a multi-year chart formation. And tonight is the Full Flower Moon. Is the stage set for a major halving-fueled Bitcoin breakout during tonight’s full moon? Stars Align For Major Cryptocurrency Breakout Bitcoin price is currently trading at over $9,300. The key level has acted as resistance throughout 2019 and 2020. However, the cryptocurrency may finally have all the necessary ingredients for a break out soon. The asset’s digitally-coded block reward reduction occurs on May 12. This cuts the amount of Bitcoin released into circulation with each new block added to the blockchain, by 50%. Related Reading | One Week Away: Comparing Past Pre-Halving Bitcoin Price Action  Miners will begin to receive just 6.25 BTC instead of 12.5 BTC, but the cost of production remains the same. Much of the recent price action has been driven by crypto investors speculating that the halving would come with a dramatic influence over the asset’s valuation. But the recent rally is also due to cryptocurrencies consolidating for two years of bear market, and are primed for a break out soon. There’s also potentially a celestial reason for Bitcoin‘s bullishness, and it could result in a breakout tonight. Will Tonight’s Full Flower Moon Cause Bitcoin to Spring to New Highs? Tonight is a full moon. But this isn’t just any normal full moon, this is the Full Flower Moon. According to Farmer’s Almanac, this moon got its name due to May bringing about new blossoms of life after a cold, hard, winter thaw. Bitcoin and other altcoin assets are also coming out of a long crypto winter and hoping to see some green during the Spring months ahead. Could this Full Flower Moon be the start? Full moons are said to have a powerful influence over human emotion and behavior. It’s led to tons of lore, such as werewolves and other mysterious occurrences. Related Reading | Mercury in Retrograde: Can Astrology Predict Bitcoin Price Cycles?  With Bitcoin and crypto being such speculative assets, the chance that moon cycles influence price charts is not far fetched. In fact, full moons appear before most major Bitcoin impulses. In the chart above, the following major impulses have been accompanied by a full moon: The September 2019 crash following the Bakkt launch.” The October 2019 “China pump.” The November 209 collapse to $6,000. The December 2020 bottom. January 2020’s initial rally. The February 2020 push above $10,000 and subsequent top Black Thursday in March 2020. Zooming out further, full moons all market major moves in Bitcoin price charts, over the last several years. It’s not just moon cycles, other astrological events are said to have an impact on financial markets. Some theories, such as the legendary W.D. Gann used key dates, lunar cycles, and more to predict tops and bottoms with uncanny success. Will tonight’s Full Flower Moon cause Bitcoin to moon also?

0 Like(s)



You should also read...

Mining 19/02/20 14:26 by Samuel Wan
Analyst Prices Bitcoin at $400k By Next Year Based on Miner Capitulation Pattern
The Bitcoin Performance Since Difficulty Bottom chart shows the formation of a cup pattern peaking in spring 2021. This price prediction tool puts Bitcoin at an astonishing $400k by then. #bitcoin $1...
Read More
Other 15/04/20 21:00 by Cole Petersen
Chainlink is Close to Invalidating Explosive Uptrend as Selling Pressure Mounts
It’s no secret that Chainlink (LINK) has been one of the most bullish cryptocurrencies throughout both 2019 and 2020, with the altcoin incurring explosive momentum that it has been able to maintain ...
Read More
Altcoins 22/04/20 22:40 by Cole Petersen
Ethereum Leads Market Surge After Posting Ultra Bullish Technical Breakout
After a short bout of bearishness that led Ethereum to retrace nearly all of the gains that were incurred as the result of its recent rally, the cryptocurrency has now been able to post a notable tech...
Read More
Bitcoin 25/05/20 14:59 by Yashu Gola
Bitcoin Risks Falling to $8K Ahead of June Due to These Technical Factors
Bitcoin price fell 9.9 percent last week to log its most significant decline since the second week of March 2020. The cryptocurrency rebounded higher in Europe and Asia session Monday after testing in...
Read More
Bitcoin 02/06/20 17:05 by Tony Spilotro
Bitcoin Price Flash Crashes $600 In Less Than 5 Minutes, Last Night’s Rally Erased
In a shocking move, Bitcoin price just plummeted by over $600 in less than five minutes of price action. The surprise move has now erased the entire rally last night that took Bitcoin above the key le...
Read More