Ambitious Projections for Bitcoin
Peter Brandt remains optimistic about Bitcoin over a multi-year horizon. The veteran trader projects that the cryptocurrency could reach between 300 thousand and 600 thousand dollars by the end of 2029, driven by the halving expected in April 2028. The asset is currently trading below 84 thousand dollars.
He dismisses more immediate forecasts, such as the 100 thousand dollar mark this year, and states he is not a proponent of extreme values like 1 million dollars.
Short-term Risk on the Radar
In the short term, Brandt sees a possible correction to the 65 thousand to 66 thousand dollar range in early October. This move, he says, could eliminate overly optimistic positions and open space for institutional investors to increase their holdings.
He also sees a good probability that the low recorded in June already marks the start of a new bull cycle.
Threat That Would Change Everything
Brandt identifies a single factor capable of completely invalidating his positive thesis: a successful attack on the Bitcoin network via quantum computers. In that case, he stated he would short all positions related to the cryptocurrency.
Experts he trusts consider this scenario unlikely at present, or believe any vulnerabilities could be fixed in time.
Broad Scenario for Investors
The outlook outlined by Brandt combines a possible temporary decline with significant upside potential in the coming years. The analysis reinforces the importance of monitoring both technical factors and technological advances that could impact network security.