Bitcoin Soars 17% in 7 Days, Reaching a 2-Year High of $50,000: Were These Predictions Accurately Foreseen?
Bitcoin Soars Above $50,000 for the First Time in Two Years
Bitcoin experienced a rapid surge during the New Year period, with a 17% increase in just seven days. In the early hours of February 13th, Bitcoin also broke through the $50,000 mark and maintained that level until the deadline. This is the first time in two years that it has reached $50,000.
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Bitcoin Hits $50,000, Reaching a Two-Year High
Accurate Predictions?
The last time Bitcoin reached the $50,000 level was in December 2021, over two years ago. After a prolonged period of silence and the disastrous events of 3AC and FTX, it has finally returned to $50,000. The price has sharply grown, with a 17% surge in just seven days.
2/7
According to 10x research, Bitcoin was predicted to skyrocket within a few days when it was priced at the $42,000 level. They also believed it would reach $52,000 by mid-March. They further stated that buying Bitcoin three days before the lunar New Year had a high success rate, with a return rate of up to 10%. It seems their prediction was accurate.
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10x Research: Bitcoin Bull Run to Start Within a Few Days, Reaching 52,000 by Mid-March
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2/12
Andrew Kang, co-founder of Mechanism, emphasized the profound impact of Bitcoin spot ETFs on prices in an article. He predicted that Bitcoin would reach a new all-time high next month. He stated that Bitcoin would no longer be seen below $40,000 and would rise to $50,000-$60,000 in February, with a new all-time high in March.
Unexpectedly, the price of Bitcoin reached $50,000 that same evening, proving his prediction right.
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Bitcoin ETF Underestimated, Andrew Kang Predicts 50,000 in February, New All-Time High in March
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10x research
Andrew Kang
Price
Bitcoin
Further Reading
Perspective from Zhe’an Yu: Bitcoin Spot ETF = Bull Market? Understanding the Blind Spots and Actual Impact of Bitcoin ETFs
Bitcoin’s price returns to $37,000, trading volume generally slows down. Top 100 cryptocurrencies: SNX, AR, NEAR experience gains.