Brandt Predicts $300K to $600K Bitcoin Price Target for 2029

Veteran trader Peter Brandt believes Bitcoin may have already hit its bear market low and is now entering a new bull cycle. In a recent interview, he discussed his views on the current market trend and provided insights into what investors can expect from Bitcoin's price action in the coming months.

Brandt had previously warned that prices could fall to the high-$40,000 range, but Bitcoin has continued to climb, reaching almost $85,000. He now thinks that a pullback towards $65,000 or $66,000 in early October is possible, which could shake out late buyers and give investors an opportunity to build their positions.

When asked about his price targets for Bitcoin, Brandt revealed that he sees the cryptocurrency hitting between $300,000 and $600,000 by 2029. He believes this cycle has a good chance of reaching half a million dollars and is confident in his model's accuracy.