In a recent interview, Brandt said there is a “very good chance” Bitcoin reaches around $500,000 in the next major bull cycle, while outlining a broader potential peak range of roughly $300,000 to $600,000 by late 2029.
At today’s price near $84,700, a move to $500,000 would represent almost a 6x increase, while the top of Brandt’s range would imply a gain of more than 600%.
The forecast also expands slightly on Brandt’s earlier cycle model, which pointed to a $300,000–$500,000 peak around September or October 2029 if Bitcoin continues following its historical four-year rhythm.
Brandt’s $500K Target Is a Cycle Call, Not a Near-Term Forecast
The important distinction is timing.
Brandt is not arguing that Bitcoin is about to jump from $84,000 to $500,000. His thesis is built around the next halving cycle, with the next Bitcoin halving expected in 2028 and the potential cycle peak arriving in 2029.
He has also said Bitcoin could still experience meaningful pullbacks before that happens.
That makes the near-term chart much more relevant.
Bitcoin recently broke above $87,000 before settling back around $84,000. The next immediate resistance remains roughly $88,000–$90,000, while the $80,000-$81,000 region has become an important support area after the latest breakout.
CryptoQuant’s Bull Signal Points in the Same Direction
Brandt’s long-term forecast is arriving just as several onchain indicators turn bullish again.
A recent CryptoQuant Bitcoin analysis says Bitcoin has moved back into a confirmed bull-market regime after closing above its 365-day moving average for the first time since March 2023.
CryptoQuant founder Ki Young Ju said this cycle could produce roughly 3x to 5x gains, arguing that stronger institutional participation may reduce both the size of future rallies and the severity of subsequent crashes.