Peter Brandt: Bitcoin may reach a maximum of 600,000 US dollars in this cycle

Senior trader Peter Brandt stated that Bitcoin has likely emerged from the low point of this cycle and entered a new bull market cycle, raising the forecast for the peak of this cycle from the previous $250,000 to $300,000 to $300,000 to $600,000 by the end of 2029, and noted that reaching $500,000 is "very likely."

However, Peter Brandt warned that Bitcoin could pull back to $65,000 to $66,000 in early October to clear out the funds that chased the highs. Brandt also expressed skepticism about the investment value of XRP, calling it a "fool coin," and stated that the payment utility of XRP and Ripple's banking partnerships do not necessarily mean its value will rise.