Veteran trader Peter Brandt has raised his Bitcoin cycle top forecast to between $300,000 and $600,000 by late 2029, stating that reaching $500,000 is "very possible." Brandt believes Bitcoin has likely already bottomed out in this cycle and entered a new bull market phase, revising his previous target range of $250,000–$300,000 upward. Despite the bullish long-term outlook, Brandt warned that Bitcoin could pull back to $65,000–$66,000 in early October to flush out leveraged long positions. He also dismissed XRP's investment potential, calling it a "fool coin" and arguing that its payment use case and Ripple's banking partnerships do not guarantee price appreciation.