Bitcoin Price Predicted to Soar to $300k-$600k by 2029: Veteran Trader

Veteran trader Peter Brandt believes that Bitcoin has likely already reached its bottom and is now entering a new bull-market cycle.

In an interview, Brandt forecasted that Bitcoin could reach as high as $600,000 by the end of 2029, with a possible price range of $300,000 to $600,000. This prediction comes after Brandt correctly predicted Bitcoin's drop in 2018, when he said it would fall below $4,000 and it indeed dropped to around $3,800.

However, Brandt also warned that investors should not expect a straight-up move and that a further short-term correction is possible. He specifically mentioned that the price could fall to $65,000 to $66,000 by early October. This correction would be in line with his advice to focus on the price itself rather than specific narratives or catalysts.

Brandt emphasized that investors should be cautious and not get caught up in linking Bitcoin's price moves to specific events or legislation, stating that 'in most cases, narratives are at least partly wrong'.