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Just a few days ago, Bitcoin broke the $40,000 mark. Then, it dropped down to under $35,000. Then, it moved up again. Its price has been fluctuating in a similar manner for ages. In fact, ever since the Bitcoin hype started a few years ago, the Bitcoin price has been very unstable. For this reason, being a Bitcoin investor is not an easy job.
Surely, those Bitcoin investors who went crypto shopping in March 2020 (when its price was under $5,000) and went selling in January 2021 (when its price came near $42,000) have earned themselves a lot of money.
Still, for most Bitcoin investors, the right times to buy and sell remain a mystery. Some do analyses based on Fibonacci retracement levels, some focus entirely on crypto news and reports. Others, combine all the possible methods.
Then, there are those that use unconventional Bitcoin trading methods. For Maren Altman, a social media influencer with over a million followers on TikTok, the key to Bitcoin trading lies in astrology.
Maren Altman, a New York-based social media celebrity who previously got into the headlines of mainstream media for calling the 2020 US Elections and predicting Joe Biden will die in the office, has started using her “prophetic powers” for Bitcoin trading.
A few days ago, Altman shared her Bitcoin projections with her followers on TikTok, of whom, there are more than one million. She told them to watch for Bitcoin price correction on January 11 based on the fact that “Saturn was going to cross Mercury.”
Strangely enough, her predictions were correct. After reaching its all-time record price, the world’s most popular digital currency dropped down by 21% on that day.
Although a big majority of her followers don’t believe Saturn and Mercury had anything to do with the Bitcoin price movement, many of them did end up selling it when it was flying high.
Since then, Bitcoin has rebounded once again, making investors ask themselves the same question again – when is the right time to sell and trade Bitcoin?
There’s a number of big names in the world of economics who are predicting an even more extreme BTC price surge than the one we’ve been witnessing over the last couple of weeks. Some even go as far as to claim Bitcoin could reach the price of $100,000 in 2021.
On the other hand, there are also those who call for caution. The chief investment strategist at Bank of America Michael Hartnett is one of them. He thinks Bitcoin investors need to be aware of the risk that the recent crazy could lead to “the mother of all bubbles.”
According to Hartnett, the speculative mania that’s been leading Bitcoin trading in 2021 could cause the bubble to burst, leaving many investors with empty pockets.
Over in the UK, the Financial Conduct Authority released a statement warning Bitcoin investors to be careful: “If consumers invest in these types of product, they should be prepared to lose all their money.”
What all this practically means is that no one knows when it’s the right time to buy/sell/hold Bitcoin. One thing is certain, though – there’s always going to be some risk involved if you’re going to look at Bitcoin as a get-rich-quick scheme. However, everyone seems to agree that in the long-run, Bitcoin investing is almost guaranteed to pay off.
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