Peter Brandt: Bitcoin to $200K? Not This Year, But Q3 2029 Possible

Friday Nov 21 2025 02:40

Duration

2 min

  1. 1. Article Highlights

  2. 2. Bitcoin at $200,000? Peter Brandt Says Look to 2029

  3. 3. Bitcoin's 1970s Soybean Market Analogy

Article Highlights

  • Peter Brandt forecasts Bitcoin potentially reaching $200,000 by Q3 2029.
  • His prediction contrasts with other forecasts expecting Bitcoin to hit $200,000 by year-end.
  • Brandt describes the current market pullback as a healthy development.
  • Brandt draws parallels between Bitcoin's price chart and the 1970s soybean market.

Bitcoin at $200,000? Peter Brandt Says Look to 2029

Veteran trader Peter Brandt has stated he does not anticipate Bitcoin reaching $200,000 before the end of the year, contrary to predictions made by some cryptocurrency executives. He suggests it may take nearly four more years to reach that level. "The next bull market in Bitcoin should take us to $200,000 or so. That should be in around Q3 2029," Brandt posted on X on Thursday, emphasizing that he remains a "long-term bull on Bitcoin." Brandt's forecast stands out due to the more aggressive timelines proposed by others. Several prominent Bitcoin advocates, including BitMEX co-founder Arthur Hayes and BitMine chair Tom Lee, have publicly stated their expectation for Bitcoin to reach at least $200,000 by the end of this year. Lee and Hayes reaffirmed their confidence in their predictions as recently as October. Brandt's projection also differs significantly from the bullish targets put forth by crypto executives such as Coinbase CEO Brian Armstrong and ARK Invest's Cathie Wood, both of whom foresee Bitcoin reaching $1 million by 2030, only one quarter later than Brandt's $200k target. Bitcoin has experienced a downtrend since reaching a new all-time high of $125,100 on Oct. 5, falling to as low as $88,000 on Wednesday. Despite a brief recovery, the price further declined to $86,870 at the time of publication, according to CoinMarketCap. However, Brandt views the current market pullback as a positive sign. "This dumping is the best thing that could happen to Bitcoin," he stated. Other crypto analysts have recently noted that historically, such reset periods often precede substantial future growth.

Bitcoin's 1970s Soybean Market Analogy

Back in October, Brandt pointed out similarities between Bitcoin's current price chart and the soybean market of the 1970s, which saw prices peak before plummeting 50% as global supply began to outstrip demand. "In the 1970s, Soybeans formed such a top, then declined 50% in value," Brandt explained. Capriole Investments founder Charles Edwards recently noted that Bitcoin has "never seen this much institutional selling as a percentage of Coinbase Volume in all history."

Risk Warning: This article is provided for informational purposes only and does not constitute investment advice, investment research, or a recommendation to trade. The views expressed are those of the author and do not necessarily reflect the position of Markets.com. When considering shares, indices, forex (foreign exchange), and commodities for trading and price predictions, remember that trading CFDs involves a significant degree of risk and may not be suitable for all investors. Leveraged products can result in capital loss. Past performance is not indicative of future results. Before trading, ensure you fully understand the risks involved and consider your investment objectives and level of experience. Cryptocurrency CFD trading restrictions may apply depending on jurisdiction.

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Written by:

Noah Lee

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