Bitcoin hits $50,000, 7-day increase of 17%! New high in two years, were these accurate predictions?

Bitcoin surged during the New Year period, with a growth of over 17% in 7 days. Bitcoin also broke the $50,000 mark in the early hours of February 13th and was still holding above the $50,000 level at the time of writing. This marks the first time in two years that it has returned to the $50,000 level.

Bitcoin Hits $50,000, Reaches Two-Year High

Bitcoin last reached the $50,000 level in December 2021, over two years ago. After a long period of silence and in the aftermath of the 3AC and FTX catastrophic events, it has finally returned to $50,000. This price surge has been rapid, with a 17% increase in just seven days.

Accurate Predictions?

On 2/7, 10x research stated that Bitcoin would skyrocket in a few days, when the price was at the $42,000 level, and predicted it would reach $52,000 by mid-March. They also mentioned that buying in three days before the Lunar New Year has a high success rate, with returns as high as 10%, which seems to have been spot on.

10x Research: Bitcoin Surge to Start in Days, Reach 52,000 by Mid-March

On 2/12, Andrew Kang, co-founder of Mechanism, emphasized the profound impact of a Bitcoin spot ETF on the price, believing that Bitcoin would hit a historical high next month. He predicted that Bitcoin would not drop below $40,000 in the future, rising to $50,000-$60,000 in February and hitting a historical high in March.

Unexpectedly, Bitcoin reached $50,000 on the same night, proving his prediction right.

Bitcoin ETF Bullish Outlook Underestimated, Andrew Kang Predicts $50,000 in February, Historical High in March