Veteran commodity trader Peter Brandt has forecast that Bitcoin could reach $250,000 in the year 2029, following a prolonged period of price consolidation and a market bottom. Brandt points out that before this surge can happen, the cryptocurrency will likely experience a significant downturn and then trade sideways for an extended period. His projection is tied to Bitcoin’s quadrennial miner reward halving cycle, which Brandt believes plays a critical role in shaping market trends.
Halving cycles shape bitcoin’s price action
Historically, Bitcoin’s price peaks have occurred roughly 16 to 18 months after each halving, with extended bear markets trailing these highs. Fresh upward trends tend to begin 12 to 18 months before the next halving event. Recent market data suggest that this pattern continued in the latest cycle as well. After the most recent reward halving in April 2024, Bitcoin hit its peak in October 2025, almost 18 months later. Brandt believes a similar cycle could unfold following the next halving scheduled for 2028.
Based on these patterns, current forecasts suggest that the ongoing bear market might end by approximately October 2026. From there, Bitcoin could enter a new bullish phase, with its price potentially climbing to $250,000 near the end of 2029.
Brandt’s long-term analysis of the crypto market
Peter Brandt is widely respected for his decades of experience in the futures markets, which began in the 1970s. He was a well-established name in traditional assets such as agriculture, metals, and currencies before focusing on digital assets. Today, his cryptocurrency market analyses are closely watched by a broad audience.
“I do not expect a market bottom before September or October 2026. The price doesn’t have to fall below the last major low. After a brief upward move, the market might trade sideways or drift lower for a while. In the worst-case scenario, prices could drop to around $50,000, but then, a powerful rally may follow, pushing bitcoin to $250,000 by late 2029.”
Brandt’s perspective stands in contrast to many crypto analysts. According to the prevailing view among others, the downward trend that began after the all-time high around $126,000 in October reached its bottom in early February at $60,000. The subsequent price recovery is seen by some as the start of a new bull run.
Data from CoinDesk indicate that since February, the price of bitcoin has jumped by over 25 percent, reaching approximately $80,300.
Market uncertainty calls for cautious projections
Despite pointing to a market bottom near the end of the year, Brandt emphasizes that this projection does not mean prices will necessarily fall below the February lows. He explains that sideways or choppy price movements could persist for some time before the next major phase unfolds.
“As long as the market follows the scenario I have outlined, I will continue projecting accordingly. If price behavior deviates from my expectations or if the cycle shifts, I will revise my outlook. I am not stubborn or inflexible about this,” Brandt clarified.
Brandt’s method relies heavily on Bitcoin’s adherence to historical cycles. Nevertheless, he warns that unforeseen risks and changing market conditions mean his forecasts may need updating as new information becomes available.
