Veteran trader Peter Brandt has tempered expectations for Bitcoin's (BTC) price surge, predicting it won't reach $200,000 until the third quarter of 2029. This forecast contrasts sharply with the bullish predictions of some crypto executives who anticipated Bitcoin reaching at least $200,000 by the end of this year.
Brandt, known for his experience and technical analysis, shared his outlook in an X post, emphasizing his long-term bullish stance on Bitcoin. He believes the next significant bull market will propel Bitcoin to around $200,000, but not for another four years.
This prediction diverges significantly from projections by figures like BitMEX co-founder Arthur Hayes and BitMine chair Tom Lee, who have repeatedly expressed confidence in Bitcoin hitting the $200,000 mark sooner. Furthermore, it's a stark contrast to even more optimistic targets from Coinbase CEO Brian Armstrong and ARK Invest's Cathie Wood, who foresee Bitcoin reaching $1 million by 2030, just a quarter after Brandt's $200,000 target.
Brandt's analysis also included a short-term bearish outlook. On November 19, 2025, he warned of a potential drop to $58,000, citing a confirmed bearish pattern. He pointed to a "broadening top pattern" that could lead to this decline. This warning came amidst a market struggling with consecutive days of lower highs since November 11. According to Brandt, the current market setup indicates a bearish movement that could accelerate if market sentiment worsens. He identified potential support levels at $81,000 and $58,000.
Brandt also drew parallels between Bitcoin's current price chart and the soybean market of the 1970s, which experienced a 50% price drop after peaking due to global supply outweighing demand. In October, he suggested that Bitcoin might have already reached its peak, potentially falling to $60,000. At that time, he stated that Bitcoin could either experience a large-scale bull run, reaching $250,000, or correct down to $60,000.
Despite the long-term bullish outlook, Brandt described the recent market pullback as a healthy development. He noted that such "reset periods" often pave the way for greater upside in the future. However, other analysts have observed a shift in market dynamics, with traders rotating out of Bitcoin and into altcoins.
Adding to the market's anxiety, economist Peter Schiff has reiterated his criticism of Bitcoin, questioning its reliability as a currency during times of volatility.
While some analysts predict even more dramatic long-term growth for Bitcoin, with potential prices reaching hundreds of thousands or even millions of dollars by 2030, 2040, or 2050, Brandt's more conservative estimate suggests a longer timeline for substantial gains. For example, one analysis anticipates Bitcoin reaching a maximum price of over $560,000 by 2030.
Brandt's perspective as a seasoned trader offers a counterpoint to the more exuberant predictions within the cryptocurrency space. While remaining bullish in the long term, his analysis suggests investors should prepare for potential corrections and a more gradual climb to higher price levels.
