Svmuu News: Veteran trader Peter Brandt stated that Bitcoin could reach $250,000 by 2029, but before that, the market still needs to undergo a relatively long bottoming process, with the bottom potentially extending to around September to October 2026.
Peter Brandt pointed out that Bitcoin's price action still conforms to the typical "four-year halving cycle" pattern: historically, bull markets typically peak about 16–18 months after a halving, then enter a bear market, before starting a new upward cycle 12–18 months before the next halving. If this structure continues, the peak of the current cycle, formed after the April 2024 halving, may have already appeared around October 2025, while the next bottom could occur in the autumn of 2026. Even if prices do not break below the previous low, the market may exhibit a "bottoming structure" characterized by repeated oscillations and back-and-forth fluctuations, with extreme scenarios potentially seeing a pullback to the $50,000 or even $40,000 range.
Peter Brandt also stated that his forecast is entirely based on the market following its historical rhythm. If the trend deviates from the cycle pattern, he will adjust his model assessment and will not stubbornly adhere to the original hypothesis. Currently, market opinions remain divided. Some analysts believe that Bitcoin's rebound since its February low has already signaled the start of a new upward cycle, and its subsequent performance will depend on whether the cyclical structure continues to hold. (CoinDesk)