Bitcoin Could Hit $48K in Days, Propelled by Historic Chinese New Year Gains: 10X Research

"The next few days are of paramount statistical importance as bitcoin tends to rally by +11% around Chinese New Year, starting on February 10 (Saturday)," Thielen wrote in a Thursday report. "During the last 9 years, Bitcoin has been up every time traders would have bought bitcoin 3 days before and sold it ten days after the start of the Chinese New Year."

"This opens the door to our shorter-term target of $48,000," Thielen added. "Looking further ahead, we expect higher prices over time, with a possible Inc. Wave 5 peaking in 2025."

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