Bitcoin, the leading cryptocurrency, has been in the spotlight for investors in recent days, exhibiting a strong recovery.
While some analysts in the market suggest the uptrend may continue, others predict further declines.
In this context, expert analyst Peter Brandt, with over 50 years of market experience, made a noteworthy prediction, stating that the current bear market in Bitcoin is not yet over and that the bottom has not been reached.
In a recent interview, Brandt predicted that the BTC bear market would bottom out on October 4th. According to the experienced analyst, BTC could continue its current downtrend, falling below $50,000 or even as low as $40,000.
Brandt stated that true market bottoms typically occur when investors have completely lost hope, and that current price movements do not yet indicate that stage.
“…The market is currently emotionally neutral. Markets don’t bottom out when they’re in a neutral mood. They bottom out with panic and trading volume.”
The analyst, stating that his predictions are based on past four-year cycles, said that if the historical pattern repeats itself, the bottom for Bitcoin will occur between the end of September and the beginning of October, therefore he sees October 4, 2026 as a possible bottom. He added that this date could change if market dynamics change.
While Brandt adopts a cautious outlook in the short term, he maintains his optimism in the long term. The experienced analyst predicts that after the bear market concludes, Bitcoin will reach a new bull peak in 2029, with a target price range of $250,000 to $300,000.
However, the analyst added that this assessment was not a definitive prediction, but rather a forecast based on current bear market data.
