Bitcoin (BTC) rose for the fifth day and surpassed $47,000 on Friday morning. CoinDesk 20 Index (CD20), the indicator for the largest cryptocurrency, added 4%. The largest cryptocurrency by market capitalization has reached a one-month high as East Asia celebrates the Year of the Dragon, its biggest festival. This celebrates the beginning of what is considered one of the luckiest periods according to the Chinese Zodiac. . In Chinese, the word dragon is pronounced similarly to “long,” increasing its memetic value among cryptocurrency traders. Some analysts predict that the price of the cryptocurrency will rise to $50,000 over the weekend. Others said the cryptocurrency might reach $53,000-$55,000 before the halving in April.
