Veteran trader Peter Brandt has a bold target for Bitcoin: $250,000 by 2029. But he's not predicting a smooth ride. Brandt warns the cryptocurrency is entering a prolonged bottoming phase that could last until September 2026.
The bottoming timeline
Brandt's outlook suggests months of sideways or lower prices. The bottoming process he describes often shakes out weak hands. For those holding through, the payoff might come later. But it requires patience—something crypto traders don't always have. Brandt sees the bottom holding through summer and into early autumn. Only after that does he expect the real rally to start. This isn't a quick V-shaped recovery. It's a patient play.
Why Brandt's voice matters
The trader has been in the markets since the 1970s. He's known for his no-nonsense chart analysis. A call like this from him gets attention. It's not a random price target; it's based on his reading of market structure. That doesn't mean he's always right, but his track record gives his predictions weight. He's been making market calls for decades. Some have been prescient. Others have missed the mark. But when he speaks, traders listen.
If Brandt is correct, the next few months won't see explosive gains. Instead, expect range-bound trading. That could frustrate bulls hoping for a quick recovery. On the flip side, it might offer accumulation opportunities for those with a longer horizon. The $250,000 target is distant enough that daily price moves feel less urgent.
Bitcoin has been fluctuating in a wide range this year, with no clear direction. A bottoming process would extend that uncertainty. For short-term traders, it's a waiting game. For long-term holders, it's a test of conviction.
What comes next
Brandt's forecast puts a marker on the calendar. If September 2026 passes and Bitcoin hasn't bottomed, that call will need revisiting. Until then, the waiting game continues. The market will watch the coming months for signs that Brandt's timeline is playing out. The next few months will tell.
