2468: $600K Bitcoin This Cycle - Investing Legend Says Bull Market Will Run Until 2029

Justin Verrengia (0:00)

Bitcoin's four-year clock is breaking. For 17 years, everyone thought they knew the pattern. Boom, bust, reset, repeat. But this time, something is different. The old Bitcoin playbook may not survive. What comes next? Let's get right into it. Bitcoin is about to make 100,000 look cheap. A legendary trader says Bitcoin is going to $600,000 this cycle, but his timeline is even more bullish. He says the bull market is only beginning now and won't peak until 2029

Peter Brandt's thesis is simple. He believes Bitcoin will be above 300,000 by the next halving, which is 2028, and says the next bull market could keep running until late 2029 Now, here's where this gets freaking interesting. The supply is already set in the stage because while everyone's staring at the price waiting for another correction, the supply is telling a completely different story. 81% of all the Bitcoin hasn't moved in the last six months. Long-term holders have reportedly added more than 3 million Bitcoin since 2020 Think about what that means. The price can move, the headlines can change, fear can explode overnight, but an enormous percentage of the Bitcoin supply simply isn't moving. Now, look at the demand side. US bought Bitcoin ETFs to absorb billions of dollars in fresh capital over the past week. Institutional money isn't waiting for $20,000 Bitcoin. It's buying right now. And Fidelity's Jurrien Timmer is independently arguing that Bitcoin has entered a new bull market after holding the $60,000 level. Now we connect the dots. Fidelity sees a new bull market beginning. Billions are pouring into the Bitcoin ETFs. Long-term holders refuse to sell. This is where Bitcoin gets dangerous for anyone waiting on the sidelines. Because Bitcoin doesn't need every investor on earth to suddenly become bullish. It only needs demand to overwhelm the amount of Bitcoin actually available for sale. There will never be an emergency supply increase because Wall Street wants more. The network doesn't give a what about demand, 21 million forever. And every cycle, more of that supply disappears into the hands of investors who understand exactly what they own. And this is where the super cycle thesis enters the picture. Every previous Bitcoin cycle eventually ran into the same wall. Massive gains, massive profit taken, massive drawdown, then another four-year reset. But what happens if that rhythm starts to break? What happens when Wall Street is buying, corporations are buying, sovereign nations are accumulating, and long-term hodlers still refuse to sell? That becomes game theory. And every new buyer knows there's only 21 million. Every institution knows its competitors can buy first. Every nation knows another nation can front run them. And nobody wants to be the last buyer fighting over the Bitcoin. That remains. That's how a four-year cycle can mutate into a super cycle. And that's why $600,000 Bitcoin matters. Not because one legendary trader made a bullish prediction. It matters because the conditions underneath that forecast are becoming impossible to ignore. Demand is accelerating, supply is locked down, institutions are accumulating, long-term holders are refusing to move. And if Brandt is right, we aren't watching the end of the Bitcoin bull market. We're watching the beginning. $100,000 Bitcoin isn't the destination. It may be the bargain everyone wishes they bought. Is Bitcoin's four-year cycle officially over? Yes or no? Holla at your boy in the comments. And that's just the setup, because the money is already moving. Billions are flooding into the Bitcoin ETFs. 81% of the supply isn't moving. Fidelity says new bull market has already begun. And Bitcoin adoption is accelerating at the same exact time. Check this out. Fidelity's Jurrien Timmer says Bitcoin has started a new bull market after holding $60,000, which means the bottom is in. His model targets $300,000 by 2029

And if you're not familiar with Fidelity, it's one of the largest asset managers in the world. Also, their head of macro is this guy, Jurrien Timmer. He's also the one that put that $1 billion Bitcoin price target out there by the year 2038, which was the first ever billion-dollar price target we have ever covered here on the podcast. But this breaks down the Bitcoin power law model, as you can see here, from the previous cycles and to where we're heading. Let me know if you agree or disagree with this and what Fidelity is putting out there, that $300,000 is incoming by 2029 I'd say that's quite bearish because I believe $300,000 can happen potentially next year. I don't know if I'm as bullish to say it's going to happen here in Q4, but I am bullish enough to say we can re-enter price discovery, which is currently $126, anything above it.

And 2028 is the year of the halving. Typically, that is the year we always hit a new all-time high. And then typically, according to the past, it's the year preceding the halving, which would be 2029 We hit the cycle peak, but I'm a lot more bullish. I predict $1 million market peak in 2029, not $300,000. So I'm about 300% more bullish. And Jurrien Timmer, who even has a billion-dollar prediction out there, take that.