Peter Brandt: Bitcoin Could Hit $250k if this Happens

Peter Brandt has been bearish about Bitcoin lately, but not in the long-term. He has hinted that the coin can hit between $200,000 and $250,000 in the next bull cycle, but that depends on certain conditions being met.

In an X post on 2 December, the trading veteran said every Bitcoin bull cycle is characterized by “exponential decay” (meaning bearish trends), but after the decay comes the rally. This could be why he has been bearish in his recent outlook and still sees potential drops in the short-term.

A Drop to $50,000 is Required for Major Rally

Bitcoin has been on quite a roller coaster recently with unpredictable price changes. After a steep decline to $83,000, the number one digital asset saw a slight recovery which was rejected many times at $91,000. After breaking through this level, it got rejected again, crashing back to $86,000 which is a key support on 1 December.

Brant described the brief break through $91,000 as a dead cat bounce, as he says the downtrend is not yet over. He added that the price could drop to the $40,000 level before any real recovery begins. This time, he says a drop to $50,000 may be the condition required for Bitcoin to hit $200,000 to $250,000 in the next bull cycle.

In the meantime, Bitcoin has managed to bounce off support at $85,000 and is currently holding above $86,000, which is another level that has served as support in the last few days. However, there are other analysts that agree with Brandt about the possibility of a deeper plunge. 

This one believes that Bitcoin will still crash to $40,000 in 2026, which is probably more bearish than anything Brandt ever said. If his sentiment plays out, this could mean that no reasonable recovery may happen for Bitcoin before the end of this year.

What Could Happen to Bitcoin Next?

Brandt expects Bitcoin to drop further to $50,000 or lower before a sustained rally, but what happens in the next few days? Crypto commentator Michaël van de Poppe says the price will likely continue to fall for now until Bitcoin hits a low which he said the Relative Strength Index (RSI) suggests is close.

Ultimately, he said the rates in Japan must drop for Bitcoin to see a reversal and start a rally. However, there are major events lined up such as the expected rate cut during the  upcoming Federal Open Market Committee (FOMC) meeting that can influence the market.

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