Trader Peter Brandt stated that Bitcoin may have already entered a new bull cycle and could reach $300–600K by the end of 2029. At the same time, he expects a pullback to $65–66K in early October.

The bear market may have ended in late June at around $58K

Previously, Brandt identified October 4 as a potential end date for the bear market. However, he now believes the bottom has already been reached: the decline of BTC to approximately $58K in late June may have marked the cycle low. In July, he allowed for a drop into the "high $40Ks," but at that time Bitcoin was trading around $64K, and by his latest comments, it had risen to nearly $85K.

Expected October pullback as an opportunity to build positions

According to Brandt, a sharp pullback to $65–66K in early October could "shake out" late buyers and provide investors with an opportunity to increase their positions. He believes the market is crowded with participants convinced the bottom is behind, and reminds that Bitcoin does not move in a straight line.

Cycle peak at $300–600K by end of 2029, $500K is "very likely"

Brandt has raised his target range for the next BTC peak from $250–300K to $300–600K, suggesting that in this cycle the price is "very likely" to reach $500K. He does not rule out $1 million by 2030, but does not consider it a necessary scenario. He noted that he has not yet fully allocated his capital to Bitcoin and would be satisfied having about 70% of his planned exposure in the market to capture roughly 70% of the move to the projected 2029 highs.

Cycle model and skepticism toward "fool coin" XRP

In his model, Brandt places the halving roughly midway between the cycle low and the next peak, expecting growth to accelerate toward the end: the last 3–4 months could account for about 30% of the total increase. He cautions against tying every price move to news events such as the CLARITY Act, and urges to "let price be the main guide."

Brandt is skeptical of XRP, calling it a "fool coin": in his view, transactional utility and banking partnerships alone do not guarantee price appreciation. He is more favorable toward Ether and Solana, allowing them a place alongside Bitcoin in a portfolio.