Peter Brandt, an investor with half a century of experience, announced his forecast regarding the end of the current bearish trend in the bitcoin market. An experienced trader believes that the absolute minimum of this cycle will be reached in October. After that, the first cryptocurrency will be able to move to a new stage of sustainable growth. At the same time, Brandt does not exclude the possibility of a short-term drop in the asset price below the $50,000 mark. In some scenarios, quotes may drop even to the level of $ 40,000. He recalled that all previous cycles of bitcoin development were inevitably accompanied by a price correction of more than 80%.

According to the analyst, the current market sentiment remains too neutral to form a true bottom. Markets rarely reach their minimum in conditions of calm and absence of volatility. The real bottom is formed only against the background of general panic and abnormally high trading volumes. Brandt ventured to assume that the critical point would be reached on October 4. As for current investment strategies, the trader expressed serious doubts about the long-term sustainability of the hype around shares of companies in the artificial intelligence sector. If an investor needs to place funds right now, the expert advises dividing the capital equally. He considers a combination of bitcoin and traditional precious metals, which now look undervalued, to be the best choice.

Despite the short-term risks, Brandt reiterated his optimistic long-term outlook. According to his assessment, bitcoin will be able to reach a new cyclical maximum in 2029. The target price level in this scenario will be between $250,000 and $300,000. In parallel with this opinion, analysts of the on-chain platform Glassnode called the $69,000 level the last key resistance for the asset. In their opinion, the market is really close to forming a local bottom. However, experts emphasize that there are no reliable signs of the beginning of a stable upward trend at the moment.

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The material has been prepared solely for informational purposes and does not constitute financial advice or recommendation.