Veteran trader Peter Brandt: Bitcoin could hit $250,000 in 2029

Odaily Planet Daily News Veteran trader Peter Brandt stated that Bitcoin could reach $250,000 by 2029. However, the market still needs to undergo a relatively prolonged bottoming process before that, with the bottom potentially extending until September to October 2026.

Peter Brandt pointed out that Bitcoin's price movement still aligns with the typical "four-year halving cycle" pattern: historically, bull markets peak approximately 16–18 months after a halving, followed by a bear market, and then a new upward cycle begins 12–18 months before the next halving. If this structure holds, the high formed in the current cycle after the April 2024 halving may have already appeared around October 2025, while the next bottom could occur in the autumn of 2026. Even if the price does not break below the previous low, it could still exhibit repeated volatility and a tug-of-war "bottoming structure." In extreme cases, a pullback to the $50,000 or even the $40,000 range is possible.

Brandt also noted that his forecast is entirely based on the market continuing its historical rhythm. If the price action deviates from the cyclical pattern, he will adjust his model accordingly and will not rigidly adhere to existing assumptions. Currently, market opinions remain divided. Some analysts believe that the rebound in Bitcoin since its February low marks the start of a new upward cycle, and its subsequent performance will depend on whether the cyclical structure remains valid. (CoinDesk)