Peter Brandt: "Bitcoin to $500,000 by 2029...Bottom Not Yet"

▲ Bitcoin (BTC)

Veteran trader Peter Brandt has projected Bitcoin (BTC)'s long-term price top to reach up to $500,000. However, he offered a cautious diagnosis, stating that a bottom has not yet formed.

Crypto media outlet NewsBTC recently reported that Peter Brandt analyzed Bitcoin's future cycles and predicted it could rise to the $300,000 to $500,000 range in the long term.

Brandt emphasized that this forecast is a scenario based on preconditions. He explained that this target is valid only if Bitcoin's unique cycle pattern, which has repeated for about 15 years, continues to be maintained.

He suggested the next 'investable low' period to be September-October 2026. If a bottom forms in this range and an upward cycle follows, the next peak could form between September-October 2029, in the $300,000 to $500,000 range.

The market views the recent trend as a potential for 'short-term re-accumulation,' but analysis suggests that clear buying pressure and trend confirmation are needed for it to lead to a strong upward trend.

Ultimately, Bitcoin is in a phase where a long-term bullish scenario and short-term uncertainty coexist, and whether the future cycle pattern is maintained is expected to be a key variable.

*Disclaimer: This article is for investment reference only and we are not responsible for any investment losses based on it. The content should be interpreted for informational purposes only.*