Peter Brandt targets $500,000 Bitcoin peak by 2029, CryptoQuant signals new bull market

Veteran commodities trader Peter Brandt has projected that Bitcoin could reach approximately $500,000 during its next major bull market cycle, estimating a potential peak somewhere in the $300,000 to $600,000 range by late 2029.

Long-Term Outlook: Cycle-Based Projections

Brandt indicated that his long-term target is predicated on Bitcoin’s established four-year halving cycle, rather than any imminent price surge. He emphasized that the next Bitcoin halving, scheduled for 2028, would likely set the stage for a cycle peak the following year.

At today’s price, trading near $84,700, reaching $500,000 would represent a sixfold increase. Climbing to the upper end of Brandt’s projection at $600,000 would mean an increase of more than 600% from current levels.

Brandt’s earlier cycle model had centered on a $300,000 to $500,000 peak, citing historical patterns that place market tops roughly a year after each halving event. His updated outlook extends that upper boundary to $600,000, highlighting both optimism around institutional adoption and the persistence of Bitcoin’s cycle rhythm.

Bitcoin’s established halving rhythm, combined with growing institutional participation, underpins projections of a possible peak between $300,000 and $600,000 by late 2029.