Cryptocurrency service provider Matrixport said in a research note on Thursday that bitcoin could rebound 20 percent to around $35,000-$36,000.
Bitcoin has been trading within a narrowing wedge that is about to be broken upward, the report said, adding that technically this could predict a higher move by an amount equal to when the wedge started to form , with a range of about 20%.
While the Fed raised interest rates by another 25 basis points yesterday, it is likely to be the last hike of the cycle. That could lead to another strong rally for the market.