In the world of crypto and stock investing, people often use unique methods to predict how markets will change.
Some think their dreams can tell them what will happen, while others chat with computer programs that use artificial intelligence.
But in Thailand, a growing number of investors are trying something different. They’re using things like tarot cards and astrology to predict market movements, including in the world of cryptocurrency.
A video produced by our team earlier this year, poking fun at the superstitions held by certain traders
One well-known figure in this trend is “Pimfah,” an astrologer with a Facebook group of 160,000 members.
In this group, people ask for and share tarot card readings. Some even ask what these readings might mean for their cryptocurrency investments.
Another person, Ajarn Ton, is a self-proclaimed fortune teller who has a YouTube channel with nearly 26,000 subscribers. He has uploaded many videos trying to predict the prices of different cryptocurrencies using astrology.
In one recent prediction, he said that Terraform Labs’ cryptocurrency, Terra Luna Classic (LUNC), would go up by almost 50,000%, with a price of $0.029. However, right now, it’s worth less than $0.000055. Sometimes, these predictions do turn out to be a bit inaccurate.
People on Reddit had mixed reactions to these methods. Some were skeptical, thinking that if you make enough vague predictions, you’ll eventually get one right. Others made jokes, suggesting that even a hamster could do better than some adults. But it’s important to note that in Thailand, where many people follow Buddhist beliefs, these practices are not seen as strange.
A recent Pew Research report found that over 80% of Thais believe in God, deities, or spirits, and nearly half believe that magic can influence people’s lives.
Even in parts of the Western world, there are people who use astrology to predict cryptocurrency prices. In 2021, a TikTok astrologer named Maren Altman gained a big following for using astrology to predict Bitcoin’s price. She said that it made sense to apply astrology to cryptocurrency because she was already familiar with financial astrology.
Didi Taihuttu, a Bitcoin enthusiast from the Netherlands, has his own way of predicting market movements. He considers moon cycles alongside trading data to decide when to buy or sell Bitcoin.
Some Reddit users have even suggested that astrology might indirectly affect cryptocurrency prices. They believe that when traders trust astrological predictions, their actions can influence the market, creating a self-fulfilling prophecy.
At the end of the day, people that believe will believe, those that don’t won’t. What do you think about these unconventional methods for predicting cryptocurrency prices? Are they pure superstition or is there something more to it?