Brandt Doubles Down on Bitcoin Prediction: $300K-$600K by 2029

Veteran trader Peter Brandt has increased his Bitcoin price prediction for this cycle, now expecting a peak somewhere between $300,000 and $600,000 in late 2029.

This is a significant step up from the $250,000 to $300,000 target he laid out in July. Speaking on Cointelegraph's Trade Secrets, Brandt said: 'The bull market cycle this time has a very good chance of reaching half a million.'

Brandt had previously called October 4 as the day Bitcoin's bear market would end, but now thinks the market got there first. He notes that the current price is already above $85,000 and sees 'a good possibility we have seen the low and now are entering a new bull market cycle in Bitcoin.'

However, he warns of a potential pullback toward $65,000 or $66,000 in early October to shake out late buyers. Brandt's model relies on past cycles, with the halving roughly halfway between the bear market low and the next peak.