Peter Brandt, a prominent figure in the market with 50 years of experience who has repeatedly warned about a potential decline in Bitcoin, has issued another warning.
Peter Brandt, in another bearish analysis for Bitcoin (BTC), predicted a long and intense bear market for BTC in his latest post from his X account.
Brandt points out that Bitcoin’s long-standing parabolic upward trend has been broken, and continues to warn investors about a major drop.
He stated that Bitcoin has experienced five parabolic rises on a logarithmic scale in 15 years, and each rise has been followed by at least an 80% drop.
However, while the analyst warned that such a decline was possible, he also added that the current cycle was not yet over.
When asked about the bottom of the cycle, the analyst stated that he was researching the topic and that the next bull market peak would occur in September 2029.
“I’m researching this topic. However, I’ve already predicted that the next bull market peak will occur in September 2029.”
In conclusion, while Peter Brandt clearly predicted that Bitcoin’s next peak will come in 2029, he did not make a precise prediction about the bottom. He only foresaw a potential 80% drop in Bitcoin before the 2029 peak. If the 80% prediction comes true, the BTC price could fall to levels around $20,000.
*This is not investment advice.
