Peter Brandt: BTC short-term pullback to 60,000 to 70,000 USD, long-term target 500,000 USD

Veteran trader Peter Brandt has made bold predictions about the future of BTC. Despite Bitcoin having broken its all-time high multiple times in this cycle, including the peak of over $124,500 set a few days ago, Brandt believes the chances of Bitcoin reaching a peak are only 30%, and he predicts that it will face a painful pullback period next.

He also expects that by November 2026, the price of Bitcoin could fall to around 60,000 to 70,000 USD, well above the low point of the previous cycle.

Brandt's prediction is based on the historical patterns observed by @ColinTCrypto, indicating that Bitcoin's peak usually occurs around the 37th month after the last bear market low. On November 22, 2022, the price of Bitcoin fell below $16,000.

If history repeats itself, there is still significant room for the price of Bitcoin to rise, as the model predicts that on December 22 of this year, the price of BTC will soar to a peak of $200,000, although there is still over a 60% gap from this target price.

However, Brandt also presented a more optimistic long-term forecast, believing that the next bull market will be very strong, and he is confident that Bitcoin will eventually soar to the astonishing target of $500,000.

Considering that the current circulating supply is 19.9 million coins, if the price of Bitcoin reaches $500,000, the market capitalization of this asset will soar to nearly $10 trillion, which is an increase of 325% from the current level, making BTC the second-largest asset by market capitalization, second only to gold.

Despite this, Brandt warns that there is always a bear market following a bull market, and bear markets often take a heavy toll on Bitcoin. He predicts that Bitcoin will inevitably crash, but he also states that the next bull market will be very strong. This prediction adds uncertainty to Bitcoin's future trend while also showcasing its enormous growth potential.

In summary, according to Peter Brandt's prediction, although there may be a price pullback in the short term, the long-term bullish forecast of reaching $500,000 undoubtedly provides investors with an optimistic perspective. However, the uncertainty in the market reminds investors to act with caution and to manage risks.

What do you think of Peter Brandt's Bitcoin price prediction? Do you think Bitcoin can reach $500,000? Leave your insights and predictions in the comments.

#比特币 # Investment Forecast #Market Analysis