Peter Brandt Predicts Bitcoin Will Reach $250,000 After a Market Bottom Later This Year

Noted trader Peter Brandt forecasts that bitcoin will experience a significant upswing to $250,000 in 2029, following a lengthy bottoming process that could persist until September 2026. This projection aligns with bitcoin's historical four-year mining reward halving cycle, which has consistently influenced traders' predictions. Typically, bitcoin's bull runs have peaked approximately 16 to 18 months after the quadrennial halving, prior to entering year-long bear markets, with new uptrends emerging 12 to 18 months before the next halving.

If this pattern holds, the current bear market, which commenced in October 2025, should reach its bottom around October 2026, followed by a new uptrend that could propel bitcoin to $250,000 in late 2029. Brandt stated, 'I am not predicting a low until September or October 2026. It is possible for the recent low to hold, and we may experience a rally followed by a sideways or downward trend.

In the worst-case scenario, prices could drop to the lower 50s or high 40s before surging to $250,000 and reaching a high in late 2029.' Peter Brandt, a seasoned commodities trader with nearly five decades of experience, initiated his career in the 1970s, trading traditional assets such as agricultural commodities, metals, and currencies. His perspective diverges from the consensus among crypto analysts, who argue that the downtrend that began in October ended in early February, and the subsequent rally marks the commencement of a new uptrend. Since early February, bitcoin has rallied over 25% to $80,300, according to CoinDesk data.

It is essential to note 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 eventually forming a bottom. Brandt emphasized that his projection is contingent upon the market continuing to follow its historical rhythm, and if price action deviates, he is prepared to reassess rather than defend a broken thesis.