The planet Mercury influenced the sharp rise and fall of crypto

Just a couple weeks ago, I was reading an article on Medium by Coin Monks about how the planet Mercury going retrograde has dramatically affected the cryptocurrency market in the past. Mercury retrograde is a 3-4 week event that happens 3 times a year in which Mercury appears to be moving backward from the perspective of the Earth. We are just leaving one of these periods.

In several examples from 2017 and 2019, the author shows how prices started climbing sharply in the 3-day "shadow phase" of Mercury retrograde.

Then as soon as Mercury appeared to be moving forward again, prices plummeted back down to support levels that were the resistance levels just before the shadow phase of Mercury retrograde began.

This is exactly what happened in this last month. You can see each of the Mercury phases by hovering over the markers on the chart.