Peter Brandt: Bitcoin Bear Market May Bottom on Oct 4, Outperform AI Stocks in Next 2-3 Years

07/20 14:06

On July 20, renowned trader and chart analyst Peter Brandt stated that he expects the current market cycle for Bitcoin to bottom on October 4, 2026, and believes that investing in Bitcoin over the next two to three years may yield better returns than investing in AI stocks. In an interview, Brandt noted that while accurately predicting the exact date of a market bottom is extremely challenging, he has held this view for a long time. He believes Bitcoin prices could still decline further, potentially falling below $50,000 and entering the mid-to-high $40,000 range. Brandt pointed out that major bear markets in Bitcoin's history have all seen drawdowns of over 80%. Based on the current cycle's high of approximately $120,000, a worst-case scenario could see Bitcoin retreat to $50,000 or even lower. Regarding the prevailing market view that a bottom may have formed around $60,000, Brandt disagreed. He stated that market bottoms typically do not occur during emotionally neutral phases but rather when investors are panicking, trading volumes surge, and confidence collapses. In terms of investment choices, Brandt believes that AI stocks currently carry significant valuation risks and may disappoint investors over the next two to three years. If he had $10,000 to invest, he would allocate 50% to Bitcoin and 50% to precious metals. Brandt predicts that the next cycle peak for Bitcoin will occur in 2029, with a target price range of $250,000 to $300,000. He previously stated that Bitcoin eventually reaching $1 million is still possible, but the timeframe may extend to around 2030.
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