The primary cryptocurrency has shown an impressive performance in the past month, briefly hitting the $35,000 mark for the first time in 17 months. Some analysts and experts have suggested that its price could go even higher in the future, with the X (Twitter) user Josh Olszewicz being one of those.
They predicted that BTC could jump to approximately $38,000 before the end of 2023. The forecast was based on a chart indicating that the asset is situated in a bullish zone between $33,500 and $35,000. "Inside the flag, we've got evidence for A&E and iH&S, aka market refuses to break down," Josh Olszewicz argued.
Nonetheless, the analyst warned that bitcoin might retrace to $31,000 (assuming it plunges below a certain resistance level) before rising to the aforementioned peak.
