from the July 10, 2021 Crypto Astrology Group Member Webinar
So there were a number of crypto events leading up to the June 10th Annular Solar Eclipse where Bitcoin traders using 100-to-1 leverage were driving wild swings in cryptocurrency markets, particularly in Bitcoin. And this resulted in a series of liquidations, roughly around $12 billion and counting in levered positions, resulting in a major price drop with the Bitcoin price crossing over the Death-Cross level, trading below the support level of $31,000 during the Summer Solstice (June 20th).
And since that time, we’ve been in a state of Capitulation, since that Death-Cross moment with Bitcoin hovering somewhere between the trading range of $32,000 to $36,000. However, interestingly enough, as volatile as the cryptocurrency market has been, we have seen since June 25 Bitcoin move up six percent and Ethereum has moved up 15 percent.
Now Bitcoin and Ethereum are still trading well below their all-time highs, but this is an indication that there’s essentially consolidation occurring. Everybody’s talking about ‘the price of Bitcoin will drop below $30,000 at any minute now’, and that’s certainly not something we’ve been seeing. In fact, I believe back in the June 25th Crypto Astrology Group Member Webinar, I said that Bitcoin is finding its bottom with the trading range that it’s in, and that it would be hovering there and consolidating, then it would begin to start moving up.
However, one of the reasons it’s so frustrating, where we’re in the state of Capitulation – and what I listed out here is what you’re going to see in the next upswing market. Bitcoin will likely consolidate around here [$30-35,000] and then begin to move up. When it starts moving up towards $40,000 people will be in Disbelief. Then when it hits around $50,000 they’ll be in Hope. When it hits about 64, 65 or hits its previous all-time high, it’ll be Optimism. Then finally, it’ll push through $70,000; they’ll be in Belief. Then it’ll hit $80,000 and they will be in Thrill. Then there will be Euphoria when it goes somewhere between $80 to $100 thousand at that threshold.
So this type of market cycles or mini market bull cycles are common. And then that type of bull Peak is followed by Complacency, Anxiety, Denial, Panic and then Capitulation. Usually after a Capitulation where you see all the over-leveraged weak hands, the margin calls on all the leverage get called in, so people have to sell their assets completely or go bankrupt or become insolvent, or you see that people decide to continue to hold their positions and they stew in anger and resentment. And, you know, they put the blame game on conspiracy and price repression and all these other factors. This is very common psychology.
And you have to remember that 80 percent of crypto is psychology; 20 percent is mechanics. It’s not very difficult to make trades on any type of crypto exchange, read your favorite newsletter, put a trading strategy together, set out your asset allocation and stick to that. That’s 20 percent. Eighty percent is the psychology of sticking to your game plan and not getting caught up in the FUD [Fear, Uncertainty, Doubt] or with any other type of hysteria, fear or greed that really drives and pushes markets. Meaning the overall sentiment, the emotional sentiment is what essentially drives markets. Because as we’ve seen since the peak of Euphoria when Bitcoin was around $64, $65,000 when it dropped, very little actually occurred. There was no structural event. There was no secular structural event that caused the price of Bitcoin to drop other than a bunch of miners leaving China with the hash rate temporarily going down a bit before returning back to its previous all-time high. So what we’re seeing now is a Consolidation in the price where it’s hovering around this range between $32 to $36,000.
And we’re seeing also that occur with Ethereum, except Ethereum is doing a bit better and there are reasons for that which we will go into. However, we’re seeing the other coins, especially the NFT market coins, doing extremely well. And one of the good things about these down markets is it really gives us a hint about the next bull market in terms of which coins in which category of coins or which projects, I should say – because, you know, we call Bitcoin a coin, but it’s really a project. Ethereum is a project. Even the NFTs are essentially projects of a digital nature.
So which coins are going to dominate? Which projects are going to be the ones that dominate the top 20 tier out of 5,000 plus coins out there? Maybe it’s 500 coins. The list just keeps growing. So what’s going to dominate?
What was in the top 20 from last year, from the spring of 2020 until April 2021 is not going to be in a top 20 going forward as we get deeper into the second half of 2021. That’s important to keep in mind that we’re going to see a repositioning now, a shift, if you will, where certain coins that were down below the top 20 level, they were the top 40, top 60, they’re going to start moving up. And those that were in a top five, top 10, top 20 are going to start moving down dramatically. And that always happens.
Now, a little bit of FUD here that’s been going on – and I don’t believe this is affecting the markets per say – has to do with the fact that the top U.K. bank, Barclays Bank, has barred all Binance-related crypto transactions.
Watch the full presentation of this webinar in the Crypto Astrology Group Membership.
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William Stickevers is an astrological consultant, hypnotist, life coach, and business strategist, advising clients from 28 countries for over three decades with strategy and insight to live a more fulfilled life according to their soul’s code and calling.
A trends forecaster, William’s annual global forecasts are backed by a deep study of economies, geopolitics, archetypal cosmology, and modern astrological forecasting techniques. William’s predictions for the outcome of the U.S. Midterm and Presidential Elections are well documented on his blog.
In his Global Transformation Astrology (GTA) membership, William gives two webinars with Q&A every month with research and analysis of real-world economies, finance, and geopolitics with an archetypal and traditional and modern mundane astrological perspective, plus a monthly Ask Me Anything session.
William has been a guest on Coast to Coast AM with George Noory, The Unexplained with Howard Hughes, Beyond Reality Radio with Jason Hawes and JV Johnson, The Jerry Wills Show, and Alan Steinfeld’s New Realities. An international speaker, William has lectured at the New York Open Center, Edgar Cayce’s Association for Research and Enlightenment (A.R.E.), two Funai Media events in Tokyo, Japan, the United Astrology Conference (2018), for the National Center for Geocosmic Research (NYC, Long Island, New Jersey, San Francisco chapters), American Federation of Astrologers (Los Angeles), the Astrological Society of Connecticut, the San Francisco Astrological Society, and in Europe (Munich and Bucharest) and Japan (Tokyo, Osaka, Yokohama).