Peter Brandt, an experienced trader, predicts that by the end of 2029, Bitcoin's price could fluctuate between $300,000 and $600,000. He calls October 4 the day the Bitcoin bear market ends, but believes the market may have already passed that stage. "There is a good chance that we have seen the bottom and are now entering a new bullish cycle for Bitcoin," Brandt said in an interview with Cointelegraph.
In July, Brandt warned that the price could drop into the high $40,000 range when Bitcoin was trading around $64,000. By the time of his latest appearance, the cryptocurrency had reached nearly $85,000. However, according to him, the drop to $58,000 at the end of June may have already reflected the bottom of the cycle. This does not rule out the possibility of a sharp decline in the near future: Brandt expects a potential rebound to $65,000 or $66,000 in early October. "One possible scenario, of course, is that we have too many people rushing into the market. They bought the idea that the Bitcoin bottom has been reached and loaded up their positions on the rally," he noted. A drop could flush out these late buyers and provide investors with an opportunity to build their positions. "We all know that Bitcoin doesn't go straight up."
Brandt has also raised his forecasts for the next Bitcoin peak, suggesting a range of $300,000 to $600,000 by the end of 2029, compared to the $250,000 to $300,000 range he mentioned in July. "This bull market cycle has a very good chance of reaching half a million," he says. A potential million-dollar Bitcoin by 2030 does not seem impossible, but it does not necessarily need to materialize for a successful trading strategy. Brandt states that he has not invested all the funds allocated for Bitcoin and would be satisfied with 70% of that amount being in the market for 70% of the movement towards the projected highs of 2029. "If Bitcoin is worth $350,000 by the end of 2029, I am not going to be a bull at a million dollars."
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