Veteran trader Peter Brandt expects Bitcoin (CRYPTO: BTC) to head below $50,000 before bottoming in early October, and then launch into a cycle that takes it above $250,000 by 2029.

Why Brandt Sees a Bottom Below $50,000 First?

Brandt made the call in an interview with Cointelegraph’s Trade Secrets, arguing that sentiment needs to get far worse before Bitcoin finds a real floor.

Markets bottom on panic and high volume, he said, and right now the mood reads neutral at best.

“The sentiment at the bottom will be Bitcoin’s time has come and gone,” Brandt said. “The Bitcoin phenomena is over.”

He pinpointed October 4 as his cycle low target, built on the long-term cycles Bitcoin has followed consistently since inception.

His base case lands somewhere in the high $40,000s, with a possible $10,000 bounce along the way before the final leg lower arrives.

A strict 80% correction from the $120,000 peak would point to the $20,000s, but Brandt said Bitcoin’s growing maturity as an asset makes that kind of historical precedent less likely to repeat this cycle.

Why $250,000 By 2029 and Not Before?

Brandt pushed back on calls for all-time highs in 2027, placing the next cycle top in late summer 2029 in the $250,000 to $300,000 range and $1 million Bitcoin as a 2031 to 2032 event. 

He expects the next bull run to include 20% to 40% corrections along the way, flushing weak hands while strong hands accumulate.

His bull case rests on Bitcoin’s role as a superior store of value alongside gold, with both assets representing a long-term short position on fiat currencies. 

On Strategy’s (NASDAQ:MSTR) Michael Saylor, Brandt said forced liquidation would require investors to demand their money back regardless of guarantees, but he thinks Saylor likely survives the current drawdown. 

The real bottom comes from retail longs finally capitulating, not from any single institutional liquidation event.

Where Brandt Sees Opportunity Outside Bitcoin?

Brandt called AI stocks an obscene bubble comparable to dotcom in 2000, warning anyone going all-in at current valuations will regret it within two to three years. 

He said precious metals are closer to a price bottom and Bitcoin closer to a time bottom, splitting his hypothetical $10,000 portfolio between gold, silver, and Bitcoin on a scale-down buying plan.

On altcoins, Brandt said Bitcoin dominance charts and individual setups point to a possible altcoin season through the summer. 

He flagged Ethereum (CRYPTO: ETH) as having a possible bottom around $1,850 with a move toward $2,100 to $2,500, and Cardano (CRYPTO: ADA) as showing a recognizable bottoming pattern from around $0.16 with potential to double from there.

His advice for altcoin traders: buy the strongest charts showing classical bottoming formations, not the laggards hoping for catch-up moves.

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