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

Veteran trader Peter Brandt forecasts that bitcoin will experience a significant rally to $250,000 by 2029, following a lengthy bottoming process that could potentially persist 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. Historically, bitcoin's bull runs have peaked approximately 16 to 18 months after the quadrennial mining reward halving, preceding a year-long bear market.

Subsequent uptrends typically commence 12 to 18 months prior to the next halving. This pattern was evident in the most recent cycle, with bitcoin reaching its peak in October 2025, roughly 18 months after the April 2024 halving. If this cycle holds, the bear market that began then should reach its bottom around October 2026, followed by the initiation of a new uptrend that could potentially reach $250,000 in late 2029. 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 towards $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 commenced with the October peak near $126,000 concluded 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 25% rally to $80,300, according to CoinDesk data. 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 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 he is prepared to reassess his stance if price action deviates from this pattern.