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<p style="text-align: justify">You can also read this news on BH NEWS: <a href="https://en.bitcoinhaber.net/bitcoin-awaits-potential-boost-during-lunar-new-year-festivities">Bitcoin Awaits Potential Boost During Lunar New Year Festivities</a><br></p>
<p style="text-align: justify">Bitcoin is poised for a potential upswing with the Lunar New Year approaching, eyeing a short-term target of $48,000, guided by past trends and market analysis. Market expert Markus Thielen of Matrixport and 10x Research notes a significant connection between the cryptocurrency’s performance and the Lunar New Year. Thielen suggests that Bitcoin historically averages an 11% gain during the festive period.</p> 
<h2 id="bitcoin-s-gains-linked-to-lunar-new-year">Bitcoin’s Gains Linked to Lunar New Year</h2> 
<p style="text-align: justify">In his analysis, Thielen indicates the statistical importance of the days surrounding the Lunar New Year for Bitcoin, pointing out the pattern of consistent gains during the period. He proposes a strategy for investors to benefit from this trend by timing their market activities before and after the New Year celebrations.</p> 
<p style="text-align: justify">Bitcoin’s recent advance past the $44,000 resistance level and subsequent move beyond $45,000 may signal a departure from its corrective phase, which bottomed out near $38,500 in late January. Thielen identifies this progress as a foundational step toward reaching the $48,000 mark in the near future.</p> 
<h2 id="technical-analysis-predicts-further-gains">Technical Analysis Predicts Further Gains</h2> 
<p style="text-align: justify">Employing Elliott Wave theory, Thielen predicts further gains for Bitcoin. This theory posits that market trends follow a pattern of waves, and Bitcoin is presumed to be in the final stage of this pattern, poised for an uptick. Thielen sets his sights on a $52,000 target by mid-March.</p> 
<p style="text-align: justify">The melding of historical patterns and <a href="https://en.bitcoinhaber.net/cryptocurrency-market-surges-bsv-sei-and-trb-lead-the-rally">technical analysis</a> presents a bullish forecast for Bitcoin in the upcoming period. With the Lunar New Year as a catalyst, Bitcoin is expected to potentially reach new heights, with $48,000 being the next critical milestone.</p> 
<p style="text-align: justify">The dynamic nature of the cryptocurrency market, combined with Thielen’s insights, provides valuable guidance for investors seeking to understand market trends and capitalize on upcoming opportunities.</p> 
<h5><span style="font-weight:bold;font-size:16px">The post first appeared on BH NEWS: </span> <a href="https://en.bitcoinhaber.net/bitcoin-awaits-potential-boost-during-lunar-new-year-festivities">Bitcoin Awaits Potential Boost During Lunar New Year Festivities</a></h5>

Bitcoin Awaits Potential Boost During Lunar New Year Festivities

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