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BitcoinBTC has climbed following the Federal Reserve following through on its well-telegraphed 10th consecutive interest rate hikewith traders now turning to a looming $31.4 trillion problem.

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The bitcoin price has come back to within touching distance of $30,000 per bitcoin despite sudden fears emerging that China, U.S. president Joe Biden and the Fed could be about to "destroy all value of bitcoin." EthereumETH, the second-largest cryptocurrency after bitcoin, has also soared, climbing back toward highs not seen since last summer (even after founder Vitalik Buterin issued a bull run warning).

Now, bullish bitcoin and crypto price analysts have predicted the Federal Reserve's 10th hike could be its last of this cyclepotentially setting bitcoin up for a "strong rally."

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"While the Fed has raised interest rates by another 25 basis points, the probability that this was the last hike for this cycle is high, which could set up the market for another strong rally," Markus Thielen, head of research at crypto-services provider Matrixport, wrote in an emailed note.

Thielen predicts the bitcoin price could now add 20% before mid-June, potentially making one bitcoin worth $35,000 and adding $100 billion to the bitcoin market capitalization.

"At the same time, we continuously see bank failure, which requires liquidity injections and guarantees from the government for any acquiring party," Thielen added, referring to the ongoing regional U.S. bank crisis that's now hit PacWest after pushing First Republic over the edge this week.

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Meanwhile, growing instability in the banking sector is increasing bitcoin's appeal, according to Decentral Park Capital's portfolio manager Lewis Harland.

"You see outperformance of bitcoin within the crypto market when regional bank share prices collapse. This signals that bitcoin is the high-quality anti-dollar liquid play for investors as the crisis unfolds further," Harland told Coindesk, adding bitcoin dominance, a measure of bitcoin's value compared to the wider cryptocurrency market, is now near the upper end of the multi-year range.

"A break of 50% would likely signal a new market regime of prolonged bitcoin outperformance within the market."

I am a journalist with significant experience covering technology, finance, economics, and business around the world. As the founding editor of Verdict.co.uk I reported on how technology is changing business, political trends, and the latest culture and lifestyle. I have covered the rise of bitcoin and cryptocurrency since 2012 and have charted its emergence as a niche technology into the greatest threat to the established financial system the world has ever seen and the most important new technology since the internet itself. I have worked and written for CityAM, the Financial Times, and the New Statesman, amongst others. Follow me on Twitter @billybambrough or email me on billyATbillybambrough.com.Disclosure: I occasionally hold some small amount of bitcoin and other cryptocurrencies.

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A New Market RegimeThe Fed May Have Just Triggered A $100 Billion Bitcoin Price Boom As Ethereum Surges Back - Forbes