Veteran trader Peter Brandt expects Bitcoin (CRYPTO: BTC) to head below $50,000 before bottoming in early October, and then launch into a cycle that takes it above $250,000 by 2029.
Why Brandt Sees a Bottom Below $50,000 First?
Brandt made the call in an interview with Cointelegraph's Trade Secrets, arguing that sentiment needs to get far worse before Bitcoin finds a real floor.
Markets bottom on panic and high volume, he said, and right now the mood reads neutral at best.
"The sentiment at the bottom will be Bitcoin's time has come and gone," Brandt said.
