- Peter Brandt believes Bitcoin may already have entered a new bull market cycle, earlier than he previously expected.
- He sees Bitcoin potentially reaching between US$300K and US$600K by the end of 2029.
- Brandt remains sceptical of XRP’s investment case, while other traders argue XRP’s chart looks bullish, with a break above US$1.55 potentially opening a path towards US$2.
Trading legend Peter Brandt thinks the market has entered a new phase. While he previously thought 4 October would mark the beginning of the bull market, he told Cointelegraph in a recent interview that the market may already be in one.
There’s a good possibility we have seen the low and now are entering a new bull market cycle in Bitcoin.
Peter Brandt As far as the price of Bitcoin (BTC) goes in the coming cycle, Brandt believes it “has a very good chance of reaching half a million”. Although he said US$1 million (AU$1.4 million) per coin isn’t impossible by 2030, he is targeting between US$300K and US$600K (AU$430K and AU860K) by the end of 2029.
Brandt is also known for his dislike of altcoins and even went so far as to call XRP “some fool coin” that investors shouldn’t throw their money at. He didn’t deny XRP’s usefulness in payments but said that simply “because something is transactional, that doesn’t mean automatically that it must be more valuable”.
In a post on X, though, he sang a slightly different tune. He argued that one doesn’t have to be a “certified cult member to be an interested owner of XRP”.
This suggests Brandt is not completely opposed to holding altcoins, while he added that charts alone can be enough reason to enter a trade rather than relying on underlying fundamentals.
The charts alone have always been enough reason for us to make a bet. There is a difference between being open minded and having a hole in the [h]ead.
Peter Brandt Read more: Bitcoin and Ether Treasuries Surge as Corporate Buying and ETF Inflows Accelerate
XRP’s Possible Path to US$2
Another veteran trader, Ali Charts, jumped in to say Brandt was late to the party. Ali Charts said that if XRP manages to break above US$1.55 (AU$2.22), it could be on a clear path to US$2 (AU$2.86).
On the daily chart, XRP appears to be forming the right shoulder of an inverse head-and-shoulders pattern.
Ali Charts At the time of writing, XRP trades at US$1.49 (AU$2.13), slightly up on the 24-hour chart. However, it still trades well below its all-time high of US$3.65 (AU$5.23), which it reached on 17 July 2025.
Another commentator called Brandt’s views a “good take” but said that, while the chart looks great, he still holds XRP for its fundamentals.
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