Brandt suggested that Bitcoin could still fall sharply in price before entering a new phase of growth. According to the experienced investor, the price of the leading cryptocurrency could drop to $65,000–66,000 in early October. The trader believes that such a correction could drive out of the market those who began buying the asset following the recent price rally, reports Bits.media.
“This time, the bull market really does stand a very good chance of reaching the $300,000–600,000 mark by the end of 2029,” said Brandt.
The investor even suggests that the leading cryptocurrency could rise to $1 million by 2030. At the same time, he says, reaching such a high level is not a prerequisite for a successful strategy. Brandt himself has promised to deploy around 70 per cent of the capital earmarked for buying Bitcoin to capitalise on the asset’s potential rise to new highs by 2029.
The seasoned trader urged people not to link individual price movements directly to news of the failure of the CLARITY bill to regulate the US crypto market or other events. Brandt said that when making forecasts, he focuses primarily on the timing and dynamics of past market cycles, and considers the price itself to be the main benchmark.
According to his model, the Bitcoin halving occurs roughly halfway between the price trough and the next peak. Brandt expects the leading cryptocurrency’s rise to accelerate as the cycle nears its end, with the final three to four months potentially accounting for around 30 per cent of the total upward movement.
Earlier, analysts at the US financial firm River predicted that Bitcoin could rise to $840,000 over the next three to five years. In their view, such a scenario is possible if investors continue to increase the proportion of the first cryptocurrency in their portfolios.
This story was translated with the assistance of artificial intelligence.The translation was also reviewed by the Logos Press editorial team.
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