So, Peter Brandt, this seasoned trader, thinks Bitcoin could hit $250,000 but only after we hit a bottom later this year.
Right now, the market feels super bullish, but I’m sensing that some traders aren’t totally sold on it yet. Honestly, I'm a bit mixed up here, but I keep thinking Bitcoin probably won’t drop below $59,000, which I've been saying ever since it started sliding from that $100,000 mark. The bear market seemed to happen overnight and now things are looking up, but I still lean towards the views of folks who think similarly to me, like Brandt.
He mentioned that the bear market might stick around until September or October this year. Is that legit or have we already kicked off the bull market? Personally, I don’t believe we’re fully in a bull phase yet. I think we’ve got to wrap up the bear market first, which could take up a good chunk of this year. Sure, we might see some bullish movement now, but a slight bearish trend could still creep back before the bear market officially ends. What are your thoughts on this?
Keep in mind that analysts and traders can totally miss the mark sometimes. One more thing to consider is that the monthly candles seem to indicate a bullish trend peaking at around $88,000, but honestly, those monthly candles can be tricky for short-term predictions. Bitcoin might dip before it eventually climbs back up, as it often does.
This should be the last thread I make about this unless something major happens, but I doubt that will be the case.
Poll’s gonna run for 30 days.
Well, if you do technical analysis on a daily basis, we are still bearish; in the short term, we are bullish, but the current price is approaching a retracement zone.
For me, if this retracement level is ignored, and if the price continues and reaches the $100k zone, it is confirmed bullish. because it creates a new higher high after breaking the $98k resistance level.
So I am still not convinced yet that we are bullish; we need to look and analyze the wider view instead of shorter views.
I am one of those who honestly think we are actually not in bullish trend already, the bitcoin market after a prolonged period of bearish periods has been consolidating and technically there are usually gaps left up when the market was actually making an impulsive move so it was actually logical to see that bitcoin market has gone to actually chase those tops and fill in some spaces before returning back to its original direction.
This bullish sentiment is definitely a short term trend and without a strong fundamental shift in the market actually accompanying it I doing it will be for too long. The resistance before $100,000 isnt something I see the current market sentiment can break. So I agree with Peter anything bullish trend will be last quarter of the year if there is going to be a break over the $100,000 mark
It could be true because this year is a known bear market as per cycle pattern.
And Peter Brandt was also the one IIRC predicted that Bitcoin will reach $100k when it was not yet there and also predicted good price during 2018 bear market.
Let's wait until Q4 has arrived and that might be the determining factor if the bull has started on this bearish year.
You missed something essential here. Did you do it on purpose? I looks like clickbait.
I already know that the price could reach $250,000 by 2029. I don't need an expert to tell me that.
Really? You and I have a very different conception of "very bullish".
With all due respect to Peter Brandt, whose predictions have come true, no one knows for sure what will happen in the market tomorrow (let alone in the fall of 2026 or 2029, when he predicts $250k.), and I'm very skeptical of such statements. One should approach the market with a slightly philosophical attitude: "what's meant to happen, will happen".
The question is how long will the market remain bullish?
While I'm not Peter Brandt, I think it's too early for a bullish trend to begin, as the bearish period has been too short-lived and there hasn't been much bloodshed in the market. Something tells me this isn't the last (or lowest) market fall of this cycle.
We can all make mistakes, because there are no "seers" among us.
You are very right, the market seem bearish on the daily candles, but see what happened today. Bitcoin made $80000 the support price yesterday and increased back to $80900 today.
I am also not still convinced yet, I only still see it as the mild bull time of the bear market which let me posted this topic so that I can see people's opinions about it.
It is not a clickbait.
Most of us on this forum know that, especially we on the technical board can make better speculation. But let me give you a little analyses. In every 4 years, bitcoin price will increase significantly. But in each, bitcoin volatility is reducing.
Let me fast forward to 2021 all time high with bitcoin getting to $69000, but it get to $126400 in 2025 which is the first time bitcoin did not get to more than x2 of its previous price.
x2 of 126400 is $252000.
Although it is still not a clickbait and the he mentioned is still at a reasonable range.
First of, there's no guarantee that Bitcoin will not go below $59k, if the price starts to dip again and it dips below $60k, I assume that it will bottom at $48k.
The bottom of this cycle is yet come, I'm also guessing that the bear may last until September even December, although the spike we are seeing now has a limit where it probably is targeted to reach and after that target price is reached, there would be a big dip to $68k and price could stay in that price for a whole month before further dip. although, if the bottom comes sooner, then it might be around August.
After the bottom, I doubt that Bitcoin would just suddenly spike to $250k as the trader had said, it will really take a while for price to reach such high.
The bull phase does not look to have commenced yet despite the bullish momentum weve witnessed in the market recently. We have really encountered a lot of bullish growth in the market and most people are aligning that the bullish market is on. The bearish phase is not a short term phase in the market and what weve witnessed so far hasnt been that convincing enough to say the bearish market is over.
We may continue to witness a bullish momentum in the market but until the market breaks above $100K in my opinion can one be fully convinced of a full fledged bull run. For now, we may witness bullish market at some intervals and the market may return to its bearish phase again in form of consolidation over and over again.
I don't expect less when Bitcoin is rising. That's when you see many bullish predictions, especially those that are not realistic. But when Bitcoin is falling, you would see them dead silent, which can only point to hypocrisy l, and not fact/logic, regardless of if it would fall first.
As for me, at this point, I only dance to the dynamism and rhythm of Bitcoin, and as it is, it's bullish, and when it's time to sell, I see it and I take action. Enough of $250,000 or not. To even get to that level could take longer than we think.
Bitcoin could reach 250k if speculator money would flow in. But why would speculators do that? During the last year, Bitcoin price went down about 15%, while tech stocks like Intel or AMD have gained 300% or more (100% just the last week).
Isn't that exactly the reason why speculators money would flow in again. Tech stock become overvalued > profit taking is taking place > speculators look for a new place to speculate and what is closest to tech stock? it's crypto.
To be fair i might be biased since I hold bitcoin, those tech stock investor could simply get back to buying treasury bond or stock indices.
The thing is "veteran trader" means nothing. Everyone is just guessing.
Right now it seems very strongly like $60k was the bottom of the market. I'd put it at like 95% at this point. If the price can get back to like $90k which is where it was when it suddenly fell early this year to $60k from, then I'd put the $60k bottom at 99.9%. Very likely the bottom is done and bitcoin is gradually heading back up. Only thing I would see really screwing that up is some major geopolitical event that made everyone panic.
$250k is probably like 5 years away (assuming late decade bull market and then bear market I'd expect it to hit $250k for the first time on the way back up following that, so like 2030/2031 sounds about right), but under $60k at this point may never come again because $60k was very likely the bottom. Bitcoin isn't remotely bullish right now, but it has still grinded its way back up from $60,000s to over $80k. I expect it to continue gradually grinding it's way back up.
From the article, Peter Brandt predicted that Bitcoin would reach that price in 2029. That prediction sounds reasonable since Bitcoin would have entered the bull phase. Traders should not be deceived by the sudden price increase. I think we are still in the bear market, so people shouldn't think that we have entered another bull run. The market is just reacting to the regional conflict that is happening in the Middle East, which is disrupting oil supply.
I wouldn't call this present action a bear market, its just not the highs it was at but overall its still an ok price not that low at all in my reckoning. Otherwise I would agree with his prediction on general principle, you could almost call it a cliche.
From the point of view of someone as famously overqualified as Peter Brandt its probably said with a bit of a chuckle as this guy has the experience to say of course a good high first needs a good low but not all people know the dynamics of a volatile market as well as this guy.
Also in that article, he specified that he sees Bitcoin reaching $250,000 IN 2029. Let's not forget about the date because we know that it's crucial, and looking at the year where he predicted that it will reach that price, we know that 2029 is the start of the bull run cycle ASSUMING that the 4-year market cycle is still in tact.
As for the question of "are we already in the bull market?", we have the same timeline as Brandt, and I've also said in the past that I believe that the bear market phase will run until October since bear market usually lasts for around a year more or less, and many believed that the bear market started in October of 2025 hence the huge drop in price. I will not change my sentiment towards Bitcoin despite the pumps that are happening in the last few weeks. We are still in a bear market, and let's also not forget that when we are in a bear market, we don't expect that moves will always go down. There will be times where we will see an upwards movement before a move towards the downside, and vice-versa.
As for Brandt's prediction though, it's still too early to say that it will reach that price, and TBH, I don't have a prediction of the peak price of Bitcoin during the 2029 bull run (assuming that 2029 will be the year that the market will go up again), but if I will just pick a random number, maybe the peak price of Bitcoin during that time will be at $200,000. Of course, I might be wrong.
Its probably not a Bear market per say ATM but you must admit that these last number of war
time weeks have been strange - Trump trying and succeeding to influence the markets, keeping
wall street up with the Bitcoin market followingand oil down.
So ATM my thinking is that we are kind of like in an artificial Bear market purely war related and
I like the op will expect for the market to "correct" back into Bear mode . . . before the end of
the year??
More curious to know what he thinks the bottom is (but in this sense, I am only as curious about Brandt's opinion as I am in what my neighbour's cat is thinking of right now on the roof). If we believe that Bitcoin long term only increases in value, as I'm sure many of us do, then 250k is always when not if. So that's less interesting than finding out what the year's bottom is, what next year's bottom is, etc.
Because, well, buy the dip opportunity right? So instead of me saying: "Amazing! I can't wait to triple the value of my amazingly meagre wallet holdings!", I can say: "Amazing! I can 5x or 10x my dip purchase!"
From my perspective and the technical analysis standpoint, I think Bitcoin is done and has its floor at $60k, and also looking at the time, we are approaching 2027.
From the technical chart in this image, these are two possible scenarios to happen: Bitcoin will hit those resistance levels and react, but I doubt the first will happen, because that will technically bring us to another floor of $31k, which has very little chance of happening after the price respected the 60k support level and since has been making its way up.