Veteran trader Peter Brandt sees bitcoin hitting $250,000, but only after a bottom later this year

Veteran trader Peter Brandt sees bitcoin rallying to $250,000 in 2029, but only after the market finishes a long drawn-out bottoming process that could last into September 2026. \nWhat to know : Veteran trader Peter Brandt projects bitcoin could reach $250,000 in late 2029, but only after a prolonged bottoming phase that may last until September or October 2026. His outlook is based on bitcoin’s historical four-year halving cycle, in which bull markets typically peak 16 to 18 months after a halving and bottom about a year after the peak. Brandt’s view contrasts with analysts who say the bear market ended in February, and he emphasizes he will revise his forecast if bitcoin’s price action diverges from its past cycle patterns.