Peter Brandt Predicts Bitcoin Could Reach $250,000 by 2029
- Price Forecast: Veteran trader Peter Brandt forecasts Bitcoin could reach $250,000 by 2029, a prediction based on Bitcoin's halving cycle, which he believes will lead to a significant downturn followed by a prolonged period of sideways trading.
- Historical Patterns: Brandt notes that Bitcoin's price typically peaks 16 to 18 months after each halving, with the most recent halving in April 2024 followed by a peak in October 2025, indicating the persistence of this pattern.
- Market Bottom Expectation: He anticipates the current bear market may end around October 2026, although he warns that prices could fluctuate beforehand, potentially dropping to $50,000 before a strong rally occurs.
- Market Uncertainty: Brandt emphasizes that while he predicts a market bottom is near, this does not guarantee prices will fall below February's lows, and future price movements may continue to be choppy, necessitating a cautious approach to market changes.
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Technical Analysis for BASED
Technical Sentiment Analysis for Based (BASED). As of , Based (BASED) is exhibiting a Buy technical sentiment. Our proprietary analysis, which aggregates 9 technical signals, shows that 6 indicators are flashing buy, while 3 are indicating sell.
Momentum Indicators: RSI, MACD & Overbought/Oversold Status. Currently, the Relative Strength Index (RSI) for BASED stands at -, which suggests a Neutral condition. Meanwhile, the MACD (12, 26) indicator is at -, providing a Neutral signal for short-term momentum. Other oscillators like the Stochastic Oscillator at - and the Commodity Channel Index (CCI) at - further confirm a - outlook for the crypto.
Support, Resistance & Moving Averages. From a structural perspective, BASED is trading below its 60-day moving average of $- and below its 200-day long-term moving average of $-. Key price levels to watch include the immediate resistance at $- and strong support at $-. A break above $- could signal a bull continuation, while falling below $- may test the next Fibonacci floor at $-.
Based (BASED) Support & Resistance Level
| Name | S3 | S2 | S1 | Pivot Points | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Classic | 0.0154 | 0.0522 | 0.0842 | 0.121 | 0.153 | 0.19 | 0.222 |
| Fibonacci | 0.0522 | 0.0785 | 0.0947 | 0.121 | 0.147 | 0.164 | 0.19 |
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