Peter Brandt: Bitcoin Could Reach as High as $600,000 This Cycle

Odaily reports: Veteran trader Peter Brandt says Bitcoin has likely bottomed out for this cycle and entered a new bull market. He has raised his cycle top forecast from the previous $250,000 to $300,000 to $300,000 to $600,000 by late 2029, adding that hitting $500,000 is "very likely."

However, Peter Brandt warns that Bitcoin could pull back to $65,000 to $66,000 in early October to flush out momentum chasers. Brandt is also skeptical of XRP's investment value, calling it a "fool coin," and said that XRP having payment use cases and Ripple having banking partners does not necessarily mean its value will rise. (Cointelegraph)