Analyst Flags Start of New Bitcoin Bull Cycle, Lifts Long-Term Targets

A familiar voice in crypto analysis is making waves again. Peter Brandt, the veteran trader renowned for his charting expertise and accurately forecasting Bitcoin's 2018 collapse, has shared fresh perspectives on the digital asset's trajectory. He suggests the cyclical low is likely in, marking the beginning of a new Bitcoin bull market.

The "Stress Test" Before the Rally: A Warning on Sharp Pullbacks

Brandt's bullish outlook, however, comes with a caveat. He cautions that the market may need to endure a painful shakeout before the sustained uptrend takes hold. He is closely watching the potential for a pullback toward the $65,000-$66,000 range in early October.

"There's considerable FOMO in the market right now," Brandt notes. "Many are convinced the bottom is set and are piling into the rally." He views a deep correction as a healthy mechanism to flush out these latecomers, while simultaneously creating a more attractive entry point for disciplined, long-term investors.

Significantly Higher Targets: Next Cycle Peak Projected at $600K

The most striking update is Brandt's revised peak price expectation for the next cycle. He has raised his target range for late 2029 from $250,000-$300,000 (predicted in July) to a substantially higher $300,000-$600,000.

"This bull cycle has a high probability of reaching the $500,000 area," Brandt stated. He even floated the possibility of a $1 million Bitcoin by 2030, though he pragmatically added that failing to hit this more ambitious mark wouldn't invalidate his core trading thesis.

Strategy and Positioning: Capturing the Trend Amid Volatility

Regarding his personal approach, Brandt disclosed he hasn't yet deployed all the capital he intends to allocate to Bitcoin. His strategy involves phased accumulation. He calculates that if Bitcoin reaches his projected highs by 2029, achieving a 70% capture of the uptrend with 70% of his planned capital deployed would yield a highly satisfactory result.

This approach underscores a disciplined balance between risk and reward in a volatile market. It focuses less on timing every swing and more on capturing the core trend through systematic position management once the long-term direction is affirmed.