Crypto and inventory traders have at all times discovered attention-grabbing and typically weird methods to “predict” the market’s ebbs and flows.
Some have suggested that our unconscious minds can predict the inventory market via “precognitive dreaming,” whereas others have just lately been turning to the recommendation of artificial intelligence chatbots.
Nevertheless, in Thailand, there seems to be a rising group of traders turning to divine powers and astrology to foretell market actions, together with crypto — as just lately highlighted in a r/cryptocurrency thread on Reddit.
One astrologist, who goes by “Pimfah,” has a 160,000-strong Fb group the place members ask for and ship tarot card readings — some ask for assistance on what their readings imply for the crypto market.
One other self-proclaimed fortune teller, Ajarn Ton, has a YouTube channel with practically 26,000 subscribers the place he’s uploaded lots of of movies trying to foretell the worth of varied cryptocurrencies utilizing astrology.
Ton’s most up-to-date focus is predicting that Terraform Labs’ collapsed crypto Terra Luna Traditional (LUNC) will see a surge of practically 50,000% — saying it may hit $0.029.
Thus far, nonetheless, it’s buying and selling at lower than $0.000055.
Sometimes, these predictions grow to be considerably correct.
Excessive-profile fortune teller, Mor Plai, made native headlines earlier this yr for her August 2022 prediction of a crypto market restoration beginning that November — which turned out to be considerably correct, ignoring the crypto retrench round FTX’s collapse.
“Colour me skeptical”
Commenters on the Reddit publish have been largely uncertain concerning the so-called technique of prediction.
“Put out sufficient imprecise predictions, and also you gotta be proper ultimately,” one Redditor commented.
“If a hamster can carry out higher than most adults I don’t see why we shouldn’t strive astrology,” one other joked.
Nevertheless, whereas religious beliefs would probably appeal to skeptics within the West, it isn’t thought of out of the unusual in Buddhist-majority Thailand.
A September Pew Analysis report stated simply over 80% of surveyed Thais imagine in God, deities or spirits and practically half believed spells, curses or different magic influenced folks’s lives.
Even in components of the Western world, self-described astrologers have additionally been utilizing indicators from the celebrities to divine value actions in crypto.
Throughout the 2021 crypto bull market, the United States-born TikTok astrologer Maren Altman gained a following of hundreds of thousands for her astrology-backed Bitcoin value predictions.
Altman told Magazine in January she was “aware of monetary astrology, so it simply made sense to use it to cryptocurrency.”
Didi Taihuttu, a Dutch-born Bitcoiner and “Bitcoin household” patriarch — who bought all their property in 2017 and lived off Bitcoin since — has a homebrew market indicator that considers moon cycles alongside directional buying and selling information to flag purchase and promote alternatives for Bitcoin.
I obtained many questions on the Bam Bam #bitcoin Indicator and why additionally moon cycles are a part of it. It’s one other affirmation that provides you assist with deciding when to promote and purchase. This analysis article is an efficient clarification. https://t.co/hQfhzeXSoG
— ₿ Didi Taihuttu ₿ ALLIN (@Diditaihuttu) July 13, 2023
One Redditor postulated that there may very well be an oblique relation between astrology and costs, as perception in it may trigger merchants to “act accordingly” — and thus trigger a shift in costs in itself via a self-fulfilling prophecy.
“Mars is lining as much as make a positive sextile to [Bitcoin] natal Mars over the subsequent a number of days, (with Mercury cazimi),” which is assumedly constructive as they declare it exhibits energy and can “pump the market.”
Nevertheless, the “transit of Mars in Scorpio typically hasn’t been that good for BTC” they stated — no matter which means.