The veteran market analyst, Peter Brandt, estimated that the #Bitcoin could fall to the upper-$40,000 zone or below $50,000 before completing its capitulation. According to Brandt, market bottoms do not occur when sentiment is neutral, but rather when there is widespread panic and abandonment, with the narrative that the BTC phenomenon is over.
Despite the possible drop projected for October 4 of this year, Brandt still holds a bullish long-term outlook, projecting that BTC will surpass $250,000 in the next leg of the cycle toward 2029. The veteran trader emphasized BTC’s cyclical nature but reminded of the usual risk in trading: when a pattern or cycle seems too obvious or reliable, that’s precisely when it can change.
Despite the possible drop projected for October 4 of this year, Brandt still holds a bullish long-term outlook, projecting that BTC will surpass $250,000 in the next leg of the cycle toward 2029. The veteran trader emphasized BTC’s cyclical nature but reminded of the usual risk in trading: when a pattern or cycle seems too obvious or reliable, that’s precisely when it can change.