{"id":18198,"date":"2025-11-21T03:45:35","date_gmt":"2025-11-21T02:45:35","guid":{"rendered":"https:\/\/wsj-crypto.com\/?p=18198"},"modified":"2025-11-21T03:45:35","modified_gmt":"2025-11-21T02:45:35","slug":"peter-brandt-bitcoin-wont-hit-200k-before-late-2029","status":"publish","type":"post","link":"https:\/\/wsj-crypto.com\/index.php\/2025\/11\/21\/peter-brandt-bitcoin-wont-hit-200k-before-late-2029\/","title":{"rendered":"“Peter Brandt: Bitcoin Won’t Hit $200K Before Late 2029!”"},"content":{"rendered":"\n
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Veteran trader Peter Brandt believes that Bitcoin won’t hit the $200,000 mark by the end of this year, even though some crypto executives are hopeful. He thinks it might take nearly four more years to reach that milestone.<\/p>\n

\u201cThe next bull market in Bitcoin should take us to around $200,000, which I expect will happen in Q3 2029,\u201d Brandt shared<\/a> in an X post on Thursday, insisting he remains a \u201clong-term bull on Bitcoin.\u201d<\/p>\n

Brandt’s forecast is quite different from many other Bitcoin enthusiasts, like BitMEX co-founder Arthur Hayes and BitMine chair Tom Lee, who are still betting on at least $200,000 by the end of this year. Just this October, they reaffirmed their confidence in this prediction too<\/a>.<\/p>\n

Brandt\u2019s predictions stand out from other crypto execs<\/h2>\n

Continuing to contrast with other crypto bigwigs, Brandt’s outlook is far from the optimistic targets set by Coinbase CEO Brian Armstrong and ARK Invest\u2019s Cathie Wood, both of whom are eyeing a $1 million Bitcoin by 2030\u2014just a quarter after Brandt\u2019s estimate, which is nearly five times lower.<\/p>\n

Bitcoin is down 20.23% over the past 30 days. Source: <\/em>CoinMarketCap<\/em><\/a><\/figcaption><\/figure>\n

Bitcoin has faced a rough stretch since it reached a new all-time high of $125,100 on October 5, seeing a drop to as low as $88,000 this Wednesday. Although there was a brief bounce back, the price dipped again, landing at $86,870 at the time of this writing, according<\/a> to CoinMarketCap.<\/p>\n

Related: <\/strong><\/em>Bitcoin hits \u2018most bearish\u2019 levels: Is the bull cycle ending?<\/strong><\/em><\/a><\/p>\n

Despite the dips, Brandt sees the current market downturn as a positive sign. <\/p>\n

\u201cThis dumping is the best thing that could happen to Bitcoin,\u201d Brandt stated. Other analysts have pointed out that these resets<\/a> historically lead to even bigger gains in the future.<\/p>\n

Brandt compares Bitcoin to the soybean market of the 1970s<\/h2>\n

Just last month, Brandt mentioned<\/a> that Bitcoin\u2019s price patterns are starting to resemble those of the soybean market from about 50 years ago, which experienced a peak before a steep 50% drop when supply outstripped demand.<\/p>\n

\u201cIn the 1970s, soybeans reached a high and then saw a 50% decline in value,\u201d Brandt recalled.<\/p>\n

Capriole Investments founder Charles Edwards pointed out<\/a> that Bitcoin has never experienced this level of institutional selling as a percentage of Coinbase volume in its entire history.<\/p>\n

Magazine: <\/strong><\/em>Crypto carnage \u2014 Is Bitcoin\u2019s 4-year cycle over? Trade Secrets<\/strong><\/em><\/a><\/p>\n