Sorry for not posting since October. My last post was on Bitcoin, where I considered the possibilities for its recovery. Overall, I wasn’t optimistic, though I did write that the Mercury-Jupiter conjunction on December 20 might give cryptocurrencies a boost.
We can now take a closer look at this conjunction, and how it appears to be unfolding. The conjunction was in Sagittarius. Jupiter works very well in this sign, and it makes us optimistic and forward-thinking. Mercury doesn’t work so well in Sagittarius. It becomes over-optimistic, and it is liable to jump to conclusions. So when Mercury conjuncts Jupiter, there is a danger that we misread the situation, and become unrealistic about our short-term prospects.
I have created a graph, to illustrate what is going on. The green line represents the price of Ethereum, one of the major cyptocurrencies. The price has been rebased, to allow a direct comparison with the Mercury-Jupiter cycle. The red line is the angular disance between Mercury and Jupiter, measured on the eclipitic. There are also two vertical lines, one in December marking the point where Mercury entered Sagittarius, one in early January, showing where it leaves Sagittarius, and enters Capricorn.
December 13 2018: Mercury enters Sagittarius
December 20 2018: Mercury conjuncts Jupiter
January 5 2019: Mercury enters Capricorn
As you can see from the graph, the price of Etherium bottomed on December 14, the day after Mercury entered Sagittarius. It then continued to rise, into the Mercury-Jupiter conjunction on December 20 – this is the point where the angular separation between Mercury and Jupiter was zero. Ethereum continued going up, but all the while the conjunction was weakening, as the angular distance started to increase. Then on January 5 2019 Mercury leaves Sagittarius, and grounds itself in the sign Capricorn.
What does this mean? We can see the Mercury-Jupiter conjunction as a whole-sign affair – when they are in the same sign, at some level they are conjunct. This conjunction reached its peak on December 20, and its influence will continue until January 5. The rise in cryptocurrencies since Mercury entered Sagittarius on December 13 is already starting to stall, and it is then possible that from January 5 onwards the bear market resumes. This bearishness is given added impetus by Mercury’s movement towards a conjunction with Saturn, which becomes exact on January 13.
So what am I predicting? I expect cryptocurrencies to move down after January 5, if not before. They are the most optimistic, risk-on asset around, and therefore most likely to be influenced by astrological cycles involving optimism and pessimism.