Seasoned trader Peter Brandt forecasts that bitcoin will rally to $250,000 in 2029, following a prolonged bottoming process that could persist until September 2026. This projection aligns with bitcoin's four-year mining reward halving cycle, which has been a reliable indicator for traders. Historically, bitcoin's bull runs have peaked approximately 16 to 18 months after the quadrennial mining reward halving, preceding a year-long bear market.
A new uptrend typically emerges 12 to 18 months before the next halving. If this pattern continues, the bear market that commenced in October 2025 should bottom around October 2026, followed by a new uptrend that could propel bitcoin to $250,000 in late 2029.
Brandt notes, 'I am not calling for a low until Sep/Oct 2026. It is not necessary for the recent low to be penetrated. We could get a rally and then chop sideways to down.' Peter Brandt, a veteran commodities trader with nearly five decades of experience, has been trading since the 1970s. His view diverges from the consensus among crypto analysts, who believe the downtrend that started with the October peak near $126,000 ended in early February around $60,000, marking the beginning of a new uptrend.
Bitcoin has surged over 25% to $80,300 since early February. Brandt emphasizes that his forecast relies on the market adhering to its historical rhythm, and he is prepared to reassess if the price action deviates from this pattern.