Friday, October 25, 2013
Bitcoin Price Movement
Bitcoin is volatile. It's a hot new speculative vehicle with lots of press but low market capitalization. Until it achieves much higher investment, the price is at the mercy of individual large investors (like the Winklevii) who have the ability to pump-and-dump repeatedly at will. In the past few days, the price has seen a massive jump from the $130 range to above $200 (price depends on exchange). This morning the price has settled around $170.
Because of the approach of Pluto to the Bitcoin Sun and first-solar-return Venus, I'm expecting a general upward trend until the transit peaks in January. At the peak, I suspect the price will go vertical -- probably upwards but maybe down. In the meantime, we'll probably see the kind of jerky movements of recent days.
I attribute the recent upward movement to the tightening Pluto conjunction, an underlying factor which increases over the next few months. For the sudden partial price drop, I suspect these factors:
I am not a financial astrologer, so while I have been able to correctly guess some of the major movements this year, I reserve the right to be dead wrong.
Write to me at "alan" + "@" + "zot.net".