$ETH On July 20, renowned trader and chart analyst Peter Brandt said he expects this market cycle for Bitcoin to bottom out on October 4, 2026, and believes that returns from investing in Bitcoin over the next two to three years may outperform investing in AI stocks.

In an interview, Brandt said that although accurately predicting the market bottom date is extremely challenging, he has stuck with this view for the long term. He believes Bitcoin’s price may still fall further, even dropping below $50k and moving into the late-$40k range.

Brandt pointed out that in Bitcoin’s major bear markets in history, there were drawdowns of more than 80%. Based on this cycle’s peak of about $120k, in extreme cases Bitcoin could fall back to $50k or even lower.

Regarding the view in the market that around $60k may already be forming a bottom, Brandt does not agree. He said that market bottoms typically do not occur during a neutral sentiment phase, but instead form when investors are panicking, trading volume surges, and confidence collapses.

On investment choices, Brandt believes there is significant risk in the current valuations of AI stocks, and that they may be difficult to satisfy investors with over the next two to three years. If someone currently has $10k in funds, he tends to allocate 50% to Bitcoin and 50% to precious metals.

Brandt expects the top of Bitcoin’s next cycle to appear in 2029, with a target price range of $250k to $300k. He previously said that it’s still possible for Bitcoin to ultimately reach $1 million, but the timeframe may need to extend to around 2030.