Summary
- Peter Brandt said Bitcoin could remain in a long-term bottoming phase until September or October 2026.
- If the pattern holds, the current bear market could form a bottom in the second half of 2026 before a new bull cycle begins.
- Brandt said Bitcoin could fall to the low $50,000 range in a worst-case scenario, but still reach about $250,000 by the end of 2029, while adding that he would revise his outlook depending on market conditions.
Forecast Trend Report by Period
Veteran trader Peter Brandt said Bitcoin could remain in a long bottoming process before rising to $250,000 by 2029.
CoinDesk reported on May 4 that Brandt sees Bitcoin staying in a long-term bottoming phase until September or October 2026. If a new upcycle begins after that, it could climb to about $250,000 by the end of 2029.
Brandt’s analysis is based on Bitcoin’s four-year halving cycle. In past cycles, Bitcoin has repeatedly peaked about 16 to 18 months after a halving and then entered a bear market lasting roughly a year.
The same pattern appeared in the latest cycle. After the April 2024 halving, Bitcoin reached a peak in October 2025, about 18 months later, before entering a decline. If that pattern continues, the current bear market could bottom in the second half of 2026 and be followed by a new bull cycle.
Brandt said Bitcoin does not necessarily need to break below its recent low. Instead, it could remain rangebound, alternating between rallies and pullbacks. In a worst-case scenario, it could fall to the low $50,000s before staging a strong rebound.
His outlook, however, assumes the market continues to follow its historical cycle. Brandt said he would revise that view if market action diverges from the pattern, underscoring the need for flexibility.
Suehyeon Lee
shlee@bloomingbit.ioI'm reporter Suehyeon Lee, your Web3 Moderator.
