Peter Brandt "Bitcoin to reach $500,000 by 2029...bottom not yet"

▲ Bitcoin (BTC)

Veteran trader Peter Brandt has suggested a long-term price ceiling for Bitcoin (BTC) of up to $500,000. However, he issued a cautious diagnosis that the bottom has not yet formed.

In a recent report, cryptocurrency specialized media NewsBTC stated that Peter Brandt analyzed Bitcoin's future cycles and predicted it could rise to the $300,000-$500,000 range in the long term.

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

He suggested the next ‘investable low’ period would be September-October 2026. If an upward cycle follows the formation of a bottom in this range, the next peak could form between September and October 2029, in the $300,000-$500,000 range, he predicted.

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 necessary 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 simultaneously, and whether the future cycle pattern is maintained will 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.*