Veteran Trader Peter Brandt Predicts Bitcoin Bottom Will Not Arrive Until Late 2026

Veteran trader Peter Brandt has projected a specific timeline for Bitcoin’s current market cycle, predicting the cryptocurrency will not reach its ultimate cycle bottom until October 4, 2026.

Brandt suggests that before finding this absolute floor, Bitcoin could slide significantly below its current levels, potentially dipping into the high-$40,000 range. This outlook contrasts with the prevailing sentiment among retail investors, many of whom believe the current consolidation phase around the $60,000 mark represents the end of the correction.

To justify his conservative outlook, Peter Brandt points to the historical precedent of cryptocurrency drawdowns. Historically, every major bear market in the digital asset space has resulted in corrections exceeding 80% from all-time highs. For context, during the 2017–2018 cycle, Bitcoin plummeted by approximately 84% from its peak of nearly $20,000 to a low of $3,200. Similarly, the 2021–2022 downturn saw the asset shed roughly 77% of its value, falling from $69,000 to around $15,500. If Bitcoin follows this historical pattern from its peak, a much deeper correction would be required before a sustainable bull run can resume.

According to Brandt, a true bottom requires capitulation—a phase where optimistic investors completely lose faith, sell their holdings, and declare the asset dead. Currently, he argues, there is still too much lingering optimism in the market. True bottoms are typically forged in environments of absolute despair rather than hopeful anticipation.

Addressing broader investment trends, Brandt expressed skepticism regarding the long-term sustainability of the artificial intelligence stock boom. He noted that an investment concentrated entirely in AI equities today might underperform over a two-to-three-year horizon. Instead, he advocated for a balanced approach, suggesting a portfolio split equally between Bitcoin and precious metals. In his view, precious metals are closer to a price bottom, while Bitcoin is nearing its bottom in terms of timing.

Looking further ahead, Brandt expects the next major peak of this market cycle to occur in 2029, with prices potentially reaching between $250,000 and $300,000. This timeline presents a more conservative trajectory than those offered by other prominent industry figures. For instance, Ark Invest CEO Cathie Wood and Coinbase CEO Brian Armstrong have previously shared highly ambitious forecasts, suggesting Bitcoin could reach $1 million by 2030.