An excellent article on Nov 30, 2013 in the Economist caught my attention. The article was discussing efforts to maintain a new virtual currency called the BitCoin which started sometime in 2008. BitCoin is a peer-to-peer currency with no central bank, based on digital tokens with no intrinsic value. Rather than relying on confidence in a central authority, it depends instead on a distributed system of trust, based on a transaction ledger which is cryptographically verified and jointly maintained by the currency’s users.
Transactions can occur directly between the system’s participants at almost zero cost, without the need for a trusted third party or any other intermediary, and are irreversible once committed to a permanent and fully public record. Bitcoin’s mathematically elegant design ensures that the money supply can increase only at a fixed rate that slows over time and then stops altogether. Anonymity, while not assured, is possible with the right precautions and tools.
The mention of the trust factor got me thinking….. Trust implies some degree of human emotion. I then started wondering if any astrological patterns are evident so far in the short history BitCoin.
I am still in Malta as I pen this article and this past week I discovered something rather intriguing. There is a Russian group domiciled here (Exante Funds) who have started an investment fund complete with all the requisite approvals from Malta Finance administrators. The minimum investment is 100,000 Euros and the fund will extract a 0.50% management fee each year based on the fund value. But, this is no ordinary fund. This fund is a currency speculation fund – and the currency is the BitCoin.
In several recent editions of my subscriber-based Astrology E-Alert I examined the power of planetary declinations on human emotion and the financial markets. Based on this work, I then decided to examine the price history of BitCoin in the context of declination. What I found was very interesting. From this bit of research I can fairly conclude that declinations of Mars, Venus and Sun are affecting human emotion which in turn plays into the trust factor necessary for BitCoin to function. The declination plot embedded herein tells the rest of the story.
Looking into the near future, watch the timeframes around the March Equinox (Sun at 0 degrees declination), around late April-late May (Mars declination maxima), and around mid-June to Mid-August (Sun and Venus making declination maxima). I expect the BitCoin story will continue to be a volatile one. I shall be watching BitCoin with great interest.