Bitcoin's price has been fluctuating in recent times, with many investors losing money in the last year. Despite this volatility, veteran trader Peter Brandt remains optimistic about the cryptocurrency's future.
Brandt predicts that Bitcoin will trade between $300k and $500k by September or October 2029, assuming a four-year cycle is completed. This forecast is based on past market trends, where each halving event has been followed by a deep correction, a prolonged bottom, and an explosive rally to a new all-time high.
For this prediction to come true, several conditions must be met. Firstly, Bitcoin needs to form an 'investable low' in September or October 2026, which could involve another price drop of around 20%. The 2028 halving also needs to deliver its full effect, cutting the daily supply of new Bitcoin by half again. Additionally, global liquidity must expand, with rate cuts pulling money out of bonds and into risk assets like Bitcoin.
Institutional demand growth is also crucial for Brandt's prediction to come true. With corporate treasuries and ETFs holding a significant portion of Bitcoin's supply, more institutional buyers are needed to drive the price up. If these conditions are met, Brandt believes that Bitcoin's price could surge to a new all-time high.