Brandt Sees BTC Surpassing Half a Million in 2029
Peter Brandt, a well-known figure in the cryptocurrency space, has shared his thoughts on Bitcoin's future price. In an interview, he stated that there is a 'very good chance' Bitcoin reaches around $500,000 in the next major bull cycle.
Brandt also outlined a broader potential peak range of roughly $300,000 to $600,000 by late 2029. This forecast expands on his earlier cycle model, which pointed to a $300,000, $500,000 peak around September or October 2029 if Bitcoin continues following its historical four-year rhythm.
It's essential to note that Brandt is not arguing that Bitcoin will jump from its current price of near $84,700 to $500,000 immediately. His thesis is built around the next halving cycle, with the next Bitcoin halving expected in 2028 and the potential cycle peak arriving in 2029.
Brandt has also said that Bitcoin could still experience meaningful pullbacks before the next major cycle peak. This makes the near-term chart much more relevant, as Bitcoin recently broke above $87,000 before settling back around $84,000. The next immediate resistance remains roughly $88,000, $90,000, while the $80,000-$81,000 region has become an important support area after the latest breakout.
CryptoQuant's Bull Signal Points in the Same Direction