Magnetic storms can have an impact on cryptocurrency prices, although this may seem unexpected at first glance. Magnetic storms cause geomagnetic disturbances that can lead to changes in the operation of technical equipment, including computers and servers that cryptocurrency exchanges operate on.
When magnetic storms occur, equipment failures are possible, which can lead to temporary restrictions in cryptocurrency trading on exchanges. This can cause instability and fluctuations in cryptocurrency prices, as traders can react to such failures in different ways.
In addition, magnetic storms can cause stress among traders and investors, which can also affect cryptocurrency prices. Some proponents of technical analysis argue that magnetic storms can provoke an increase in volatility in the cryptocurrency market.
Thus, although there is no direct link between magnetic storms and cryptocurrency prices, it is possible that such phenomena can influence the cryptocurrency market through technical and psychological aspects. However, it is worth noting that this influence is likely to be short-term and temporary.