Veteran Trader Peter Brandt Says Bitcoin Could Reach $250,000 in 2029 but May First Fall to $40,000
Bitcoin undergoes a block-reward halving roughly every four years, slowing supply growth in an event markets often view as a key turning point in bull and bear cycles. Veteran trader Peter Brandt assessed the price outlook based on historical halving cycles. He believes the risk of a near-term correction has not passed, though scarcity and long-term adoption trends could support future prices.
Brandt's latest forecast says Bitcoin may not yet have bottomed and could retest $40,000 per coin in an extreme scenario. He remains bullish over the longer term, however, estimating that the price could rise to $250,000 by the end of 2029. The outlook spans a steep near-term pullback and more than sixfold future upside, though investors should bear in mind that cycle models offer no guarantees.
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The history behind this eventPeter Brandt Sees Bitcoin Sliding Toward $40,000 Before 2026 Bottom
Veteran trader Peter Brandt has warned that Bitcoin’s recent strength may prove to be a false breakout, leaving the cryptocurrency exposed to a steep correction toward the $40,000 range. His outlook stands out for combining a specific downside target with a long-dated market-cycle forecast, extending the expected bear-market trough into 2026 and the next potential record high into 2027.
Brandt’s latest projection places Bitcoin’s definitive cycle bottom in early October 2026, after a possible near-term retreat to around $40,000. He expects the market to begin a renewed advance after that low and potentially set an all-time high in 2027. The forecast reflects Brandt’s technical and historical cycle analysis and remains a market scenario rather than a guaranteed price path.
Peter Brandt Sees No Bitcoin Record High in 2026, Says Bottom May Not Come Until Q2 2027
Bitcoin’s price trajectory is often shaped by halving cycles, capital flows and market sentiment, drawing close attention to veteran trader Peter Brandt’s long-term technical analysis. Betting data from prediction market Polymarket can also reflect investors’ collective expectations for specific price levels and time frames.
Brandt’s latest assessment suggests Bitcoin is unlikely to set an all-time high in 2026 and that a market bottom may not arrive until the second quarter of 2027. He nevertheless remains bullish on the longer-term outlook after the bottom forms, with a target that could reach $250,000. Polymarket puts the probability of BTC returning to $120,000 in 2026 at just 15%.
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