Noted trader Peter Brandt forecasts that bitcoin will experience a significant rally to $250,000 in 2029, following the completion of a lengthy bottoming process that could potentially last until September 2026. This prediction aligns with the historical pattern of bitcoin's four-year mining reward halving cycle, which has consistently influenced traders' projections.

Typically, bitcoin's bull runs have peaked roughly 16 to 18 months after the quadrennial halving, before entering a year-long bear market. Subsequently, new uptrends often begin 12 to 18 months prior to the next halving. This pattern was evident in the most recent cycle, with bitcoin peaking in October 2025, approximately 18 months after the April 2024 halving. If this cycle holds, the bear market that commenced then should bottom around October 2026, followed by the initiation of a new uptrend that could potentially reach $250,000 in late 2029, roughly 18 months after the April 2028 halving.

Brandt stated, "I am not calling for a low until Sep/Oct 2026. It is not necessary for the recent low to be penetrated.

We could experience a rally and then move sideways or downward. The worst-case scenario would involve a move back into the lower green zone, potentially into the 50s or high 40s, before surging to $250,000 and reaching a peak in late 2029." As a seasoned commodities trader with nearly five decades of experience, Brandt's career spans the 1970s to the present, having begun in the futures markets and initially focusing on traditional assets such as agricultural commodities, metals, and currencies. His perspective differs from the consensus among crypto analysts, who argue that the downtrend that started with the October peak near $126,000 ended in early February around $60,000, and that the subsequent rally marks the beginning of a new uptrend. Since early February, bitcoin has experienced a significant rally of 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 push prices below the February low. Instead, prices could move 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.

"As long as the market follows the script, I will maintain my projections. If the price discovery moves off script, I will be forced to revise my thinking.

I will not be dogmatic about it, unlike some individuals," he said.