Veteran trader Peter Brandt: Bitcoin could hit $250,000 in 2029

Veteran trader Peter Brandt suggests that Bitcoin could reach $250,000 in 2029, but the market will need a lengthy bottoming process before then, potentially extending to around September or October 2026. Brandt points out that Bitcoin's price action still follows a typical "four-year halving cycle": historically, bull markets typically peak about 16-18 months after a halving, followed by a bear market, before starting a new upward cycle 12-18 months before the next halving. If this structure continues, the high point formed after the April 2024 halving may have already occurred around October 2025, and the next bottom may appear in the fall of 2026. Even if the price doesn't break the previous low, it may exhibit a volatile, back-and-forth "bottoming structure," potentially retreating to the $50,000 or even above $40,000 range in extreme cases. Peter Brandt also stated that his predictions are entirely based on the market continuing its historical rhythm. If the trend deviates from the cyclical pattern, the model will be readjusted, and the original assumptions will not be rigidly adhered to. Currently, market opinions remain divided. Some analysts believe that Bitcoin's rebound since its February lows has marked the start of a new upward cycle, and its subsequent performance will depend on whether the cyclical structure remains effective. (CoinDesk)