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Bitcoin Crosses $47K Propelled by Historic Chinese New Year Gains

Bitcoin (BTC) is headed towards $48,000 in the short term after its breakout fueled by a strong track record of gains around the Chinese New Year celebration, according to Markus Thielen, head of research at Matrixport and founder of 10x Research. CoinDesk's Jennifer Sanasie presents "The Chart of the Day."

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Bitcoin pode atingir US$ 48 mil em dias, impulsionado por ganhos históricos no Ano Novo Chinês: 10X Research

A maior Cripto se recuperou em todas as ocasiões nos últimos 9 anos, em média 11% em torno da festividade do Ano Novo Chinês, diz Markus Thielen, da 10X.

The Chinese new year could be bullish for bitcoin (huangshunping/Unsplash)

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Analyst Who Anticipated Bitcoin's Recent Drop Makes New Prediction

10x Research’s founder Markus Thielen, who correctly predicted bitcoin’s [BTC] recent drop to $38,000, is now seeing levels above $43,000 appropriate for taking fresh bullish bets on the cryptocurrency. Thielen's bullish view is based on the Elliot Wave theory, which assumes that prices move in waves rather than simple patterns, and future movements can be predicted by observing the repetitive wave pattern. CoinDesk's Jennifer Sanasie presents "The Chart of the Day."

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