Peter Brandt: Bitcoin’s bear market may bottom on October 4, and its performance over the next two to three years could outperform AI stocks.

Renowned trader and chart analyst Peter Brandt has predicted Bitcoin will bottom out on October 4, 2026, in its current market cycle, arguing that investing in the leading cryptocurrency now could yield better returns over the next two to three years than AI stocks. In an interview, Brandt said while precisely timing a market bottom is extremely challenging, he has long stood by this assessment. He believes Bitcoin’s price could still decline further, even dropping below $50,000 to the mid-to-high $40,000 range. Brandt noted all major Bitcoin bear markets in history have seen drawdowns of over 80%. Calculating from the current cycle’s peak of roughly $120,000, in an extreme scenario, Bitcoin could fall to $50,000 or lower. He pushes back against the market’s current view that a bottom has formed around $60,000, explaining that market bottoms typically do not occur during periods of neutral sentiment, but rather when investors panic, trading volume surges, and confidence collapses. On investment choices, Brandt argues AI stocks carry significant valuation risks and may fail to deliver satisfactory returns over the next two to three years. If he had $10,000 to allocate today, he would split it equally: 50% in Bitcoin and 50% in precious metals. Brandt projects Bitcoin’s next cycle peak will hit in 2029, with a target price range of $250,000 to $300,000. He has previously stated Bitcoin could eventually reach $1 million, though the timeline may extend to around 2030.