After hitting record highs exceeding $124,500 recently, analysts and commentators are debating whether this marks the peak for Bitcoin. Veteran trader Peter Brandt predicts a 30% chance of Bitcoin already reaching its ceiling. His analysis suggests a potential top in November 2026 followed by a bear market phase that could see prices drop to around $60,000-$70,000 before another powerful bull run pushes BTC toward a staggering $500,000. This prediction is based on historical data showing past Bitcoin price cycles aligning with a timeframe similar to the recent downturn. 37 months after November 2022’s low point, which saw prices plummet under $16,000 following the collapses of companies like FTX, the market could see a sharp surge.