Veteran trader Peter Brandt has laid out a highly conditional long-term path for Bitcoin, suggesting it could peak between $300,000 and $500,000 in late 2029. However, he also argues that the market hasn’t yet shown the kind of action that usually signals a solid bottom. In a post on X, Brandt wrote: “If Bitcoin keeps following the most remarkable cyclical patterns of any market over the past 15 years, an investable low is expected around September or October 2026. That low may or may not go below the February 2026 low. The next high (if the patterns hold) would be between $300k and $500k in September or October 2029.” So, Brandt ties this target to one condition: that Bitcoin continues to follow the cyclical behavior he believes has defined it for roughly the last 15 years. That puts a lot of weight on the near-term setup. Before any 2029 blow-off scenario can happen, Brandt is signaling that the current structure still looks incomplete.
Why Brandt Isn’t Calling a Bitcoin Bottom Yet
That skepticism came through clearly in his response to a chart shared by JDK Analysis. Brandt’s reply was blunt: “This doesn’t look like a bottom.”
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JDK’s chart argued that the recent rally looks like a “Short Re-Accumulation,” but only in a probabilistic sense. The analyst wrote, “As long as bulls don’t show clear strength and follow-through, the current low doesn’t qualify as a strong bottom. This is purely a probabilistic view!” The setup highlighted repeated tests of local highs, fading volume as price moved up, and an invalidation level above roughly $80.5K. It suggested that continuing lower was still the more likely path if buyers couldn’t force a clean breakout.
Brandt also highlighted renowned chartist Aksel Kibar, calling him “the most accomplished pure classical chart analyst alive today.” Kibar’s take on the market was less about prediction and more about process, but the message was similar: technical structures are only provisional until price confirms them.
Related Reading: Bitcoin Enters Disbelief Phase As Traders Keep Shorting The Rally
“Sometimes I get criticized by followers who have a position and want updates that confirm that position, or want me to ‘adjust’ the boundaries,” Kibar wrote. “Well, as the market gives us new information, we need to adjust. We can’t be dogmatic about our analysis. What looks like a wedge can morph into a channel. What looks like a bearish continuation can break above the channel boundary, requiring action.”
That comment was attached to a BTC chart showing exactly that kind of morphing structure. What had previously looked like a rising wedge was reinterpreted as a more clearly defined channel, with several rejections at the upper boundary. The chart also shows Bitcoin still trading below an ascending resistance line and below the 365-day average near $87,000. The late-February drop toward $60,000 was followed by a rebound into the upper-$70,000 area. Key levels around $76,500, $72,000, and the low-$80,000s appeared central to the current battle.
At press time, BTC was trading at $78,196.
Featured image created with DALL.E, chart from TradingView.com
Frequently Asked Questions
Here is a list of FAQs about Peter Brandts Bitcoin price prediction written in a natural tone with clear direct answers
BeginnerLevel Questions
1 Who is Peter Brandt and why should I care about his Bitcoin prediction
Peter Brandt is a wellknown oldschool trader who has been analyzing markets for over 40 years Hes famous for using classic chart patterns to make predictions People listen because he has a long track record but his predictions are still just educated guesses
2 Is Peter Brandt saying Bitcoin will hit 500000 by late 2029
Not exactly He is saying that based on his chart analysis Bitcoin could reach between 300000 and 500000 by late 2029 He calls this a price target not a guarantee He also warns that Bitcoin could crash before it gets there
3 Why does he think Bitcoin will go that high
He looks at Bitcoins historical price cycles He believes the current bull market follows a pattern similar to past cycles and if that pattern holds the top of this cycle will be around 200000 The 300k500k range is his longerterm target for the next major cycle peak in 2029
4 Should I buy Bitcoin right now because of this prediction
No Never make an investment decision based on a single prediction even from a famous trader This is just one opinion Do your own research understand the risks and only invest money you can afford to lose
IntermediateLevel Questions
5 What is the chart pattern Peter Brandt is using to make this prediction
He is primarily looking at a megaphone or broadening formation pattern on the longterm chart This pattern shows higher highs and lower lows suggesting increasing volatility He believes Bitcoin is currently in the final blowoff phase of this pattern which historically leads to a massive price surge
6 How does this prediction compare to other Bitcoin price forecasts
Its on the higher end but not the craziest Other analysts have predicted 1 million by 2030 Brandts prediction is more conservative than