According to renowned analyst Filbfilb, Bitcoin (BTC) could end 2023 at around $35,000 despite trending lower in the interim.

The co-founder of trading package DecenTrader offers certain BTC price targets in his latest interview with Cointelegraph, which should appeal with long-term holders.

Bitcoin is facing a number of challenges in its current rise, and the current cycle differs significantly from previous ones. It's not only the Bitcoin spot price exchange-traded fund (ETF) catastrophe; the entire macroeconomic situation appears to be much different from just a few years ago.

Filbfilb expects that the halving of block subsidies in April 2024 will have a cathartic effect on BTC price performance. BTC/USD may possibly trade as high as $46,000 by then, although losses are "likely" to follow.

When asked by Cointelegraph about a potential reversal in price behavior in the year’s fourth quarter as miners and crypto market participants “buy the rumor” on the upcoming halving, Filbfilb had this to say:

“Based on the previous cycles, we have seen a contraction of new emitted supply to market in advance of the halving. Coupled by increased speculative demand, this dynamic is likely to repeat in my opinion.”

Sources:

https://cointelegraph.com/news/bitcoin-price-46k-2024-halving-interview-filbfilb

https://coinmarketcap.com/currencies/bitcoin/