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Peter Brandt: Bitcoin Expected to Reach $250,000 by End of 2029, But Must First Bottom Out This Year
On May 4, veteran trader Peter Brandt stated that Bitcoin is expected to reach $250,000 by the end of 2029, provided that it undergoes a bottoming phase later this year. He anticipates that this bottoming process could last until September or October 2026. Brandt’s assessment is based on Bitcoin’s historical four-year halving cycle: typically, bull markets peak 16 to 18 months after a halving, while bottoms occur about a year after the peak. This view contrasts with some analysts who believe the bear market ended in February. Brandt also emphasized that he would adjust his predictions if Bitcoin’s price movements deviate from historical cyclical patterns.