Noted trader Peter Brandt envisions bitcoin, currently valued at $79,854.07, skyrocketing to $250,000 by 2029, contingent upon the market completing a lengthy bottoming process that could persist until September 2026. This projection aligns with bitcoin's established four-year mining reward halving cycle, which has reliably shaped traders' forecasts. Historically, bitcoin's bull runs have culminated approximately 16 to 18 months after the quadrennial mining reward halving, preceding a year-long bear market, after which new uptrends typically emerge 12 to 18 months prior to the next halving. This pattern held true in the most recent cycle, with bitcoin peaking in October 2025, roughly 18 months after the April 2024 halving, which reduced the per-block BTC reward to miners from 6.25 to 3.125.
If this cycle persists, the bear market that commenced then should reach its bottom around October 2026, followed by a new uptrend that could propel prices to $250,000 in late 2029, approximately 18 months after the April 2028 halving. Brandt stated, 'I am not anticipating a low until Sep/Oct 2026. It is not necessary for the recent low to be breached.
We could experience a rally followed by a sideways or downward trend. The worst-case scenario would involve a decline into the lower green zone, potentially reaching the 50s or high 40s, before surging towards $250,000 and peaking in late 2029.' Peter Brandt, a veteran commodities trader with nearly five decades of experience, initiated his career in the 1970s, trading traditional assets such as agricultural commodities, metals, and currencies, long before the advent of modern electronic trading or digital assets. Brandt's perspective diverges from the consensus among crypto analysts, who contend that the downtrend that began with the October peak near $126,000 concluded in early February around $60,000, and that the subsequent rally marks the inception of a new uptrend. Bitcoin has rallied over 25% to $80,300 since early February, according to CoinDesk data.
It is worth noting that Brandt's forecast of no bottom until later this year does not necessarily imply a deeper downtrend that would drive prices below the February low. Instead, prices could fluctuate in a choppy pattern of rallies and pullbacks before ultimately forming a bottom. Brandt emphasized that his projection relies entirely on the market continuing to follow its historical rhythm. If price action deviates, he is prepared to reassess rather than defend a broken thesis.
'As long as the market adheres to the script, I will maintain my projections. If the price discovery diverges from the script, I will be forced to revise my thinking.
I will not be dogmatic about it, unlike some others,' he said.