Veteran trader Peter Brandt: Bitcoin may hit $250k in 2029

Odaily Planet Daily News: Veteran trader Peter Brandt stated that Bitcoin could reach $250k by 2029, but before that, the market still needs to go through a relatively long bottoming process, with the bottom possibly extending until around September to October 2026.

Peter Brandt pointed out that Bitcoin’s trend still conforms to the typical “four-year halving cycle” pattern: historically, bull markets usually peak about 16–18 months after halving, then enter a bear market, and a new upward cycle begins 12–18 months before the next halving. If this structure continues, the high point formed after the cycle in April 2024 may have already appeared around October 2025, and the next bottom could occur in fall 2026. Even if prices do not fall below previous lows, they may show a pattern of repeated oscillations, with upward and downward tug-of-war, forming a “bottoming structure,” and in extreme cases, retracing to above $50,000 or even $40,000.

Peter Brandt also stated that his prediction is entirely based on the market continuing its historical rhythm. If the trend deviates from the cycle pattern, he will readjust his model judgment and will not stick to the original assumptions. Currently, market opinions remain divided; some analysts believe that the rebound since the February low marks the start of a new upward cycle, and its subsequent performance will depend on whether the cycle structure continues to be valid. (CoinDesk)