Peter Brandt says Bitcoin may hit $600K by 2029, calls XRP a ‘fool coin’

Peter Brandt says Bitcoin may hit $600K by 2029, calls XRP a ‘fool coin’

Özet: Kripto piyasasında önemli gelişmeler yaşanıyor.

Veteran trader Peter Brandt called October 4 as the day Bitcoin’s bear market would end, but now he thinks the market beat him to it.

“There’s a good possibility we have seen the low and now are entering a new bull market cycle in Bitcoin,” Brandt tells Cointelegraph on the latest episode of Trade Secrets.

In July, Brandt warned that prices could fall into the high-$40,000 range.

Bitcoin was trading near $64,000 when that interview was published and climbed to almost $85,000 by his latest appearance.  With the benefit of hindsight, Bitcoin’s fall to around $58,000 in late June may have already marked the cycle bottom.

But that doesn’t rule out a sharp drop first, says Brandt, who is on the lookout for a possible pullback toward $65,000 or $66,000 in early October.

“One thing that could happen, of course, is we just had too many people now chase the market,” he says.

“They have bought the idea that the Bitcoin low is in and they have loaded up on the rally.” A pullback could shake out those late buyers and give investors an opportunity to build their positions.

“We all know Bitcoin doesn’t go straight up.” Related: Bitcoin’s ‘narrative vacuum,’ Ethereum now inevitable: Trade Secrets Brandt has also raised his sights for Bitcoin’s next peak, putting a late-2029 high of between $300,000 and $600,000, up from the $250,000 to $300,000 range he outlined in July.

“The bull market cycle this time has a very good chance of reaching half a million,” he says.

A million-dollar Bitcoin by 2030 isn’t impossible in his view, but he doesn’t need that target to come true for the trade to work.

Analiz: Piyasa hareketliliği devam ediyor.