It’s difficult to determine a cyclical effect of Moon phases on the market. What is clear from the chart below is that significant market highs and lows coincide with Full and New moons. Market esoterica such as “Sell on the New Moon, Buy when it’s Full” seem to have a statistical chance of getting traders and investors in and out of the market at reversal points. However, as seen in the Bitcoin price chart the maxim does not hold true in all cases.