Renowned trader Peter Brandt recently expressed a cautious outlook on Bitcoin, suggesting a 30% likelihood that the cryptocurrency has already reached its peak in the current cycle. Brandt’s remarks came as Bitcoin’s price dipped below $117,500, indicating a potential downturn ahead. Brandt anticipates a possible decline in Bitcoin’s price range to between $60,000 and $70,000 by November 2026 if the peak has indeed been reached. Despite this short-term projection, Brandt remains optimistic about Bitcoin’s long-term prospects, forecasting a significant rally to $500,000 in the next bull market. Bitcoin’s recent performance has been mixed, with the cryptocurrency trading at $117,283, reflecting a 0.94% decrease in the past 24 hours. While the short-term trend may be uncertain, Bitcoin has shown a 20.17% increase in the last six months and a 25.64% rise since the beginning of the year, indicating overall positive momentum. Analyst Colin Talks Crypto presented a model suggesting that the current cycle could peak around December 2025, with Bitcoin potentially reaching $200,000 by the end of that year. Brandt acknowledged this model but reiterated his belief in a 30% chance of the cycle having already peaked, emphasizing his long-term bullish view on Bitcoin’s value as the ultimate store of value. Brandt’s analysis offers a more cautious perspective compared to other market forecasts, highlighting the ongoing uncertainty in Bitcoin’s price trajectory. As the cryptocurrency market continues to evolve, investors will closely monitor these developments to navigate potential opportunities and risks in the digital asset space.
Bitcoin Outlook: Peter Brandt Suggests Possible Peak in Current Cycle
