Peter Brandt Says Bitcoin Could Reach $600,000 by 2029, Sees Limited Impact From Further Rate Hikes
JH Kim
Summary
- Peter Brandt said Bitcoin (BTC) could reach $600,000 by 2029.
- Brandt said further interest-rate hikes would likely have only a limited impact on Bitcoin (BTC) prices.
- Brandt said XRP can be used as a low-cost transaction token, but he holds a negative view of it as an investment asset.
Forecast Trend Report by Period
Veteran trader Peter Brandt said Bitcoin (BTC) could reach $600,000 by 2029.
Cointelegraph reported on September 25 that, in an interview, Brandt shared his outlook for Bitcoin and said additional interest-rate hikes would likely have only a limited effect on the cryptocurrency's price.
On XRP, he acknowledged its usefulness as a low-cost transaction token but took a negative view of it as an investment asset. He described XRP as a "fool's coin."
Brandt pointed to Bitcoin's long-term upside, but he did not specify what conditions would need to be met for the cryptocurrency to reach $600,000 by 2029.
JH Kim
reporter1@bloomingbit.ioHi, I'm a Bloomingbit reporter, bringing you the latest cryptocurrency news.