Photo: Peter Brandt’s X account
The Bitcoin price has fallen sharply in recent weeks, causing significant division among analysts. While some experts believe Bitcoin could still explode this year, one of the most experienced traders warns that investors should remain realistic.
According to veteran Peter Brandt, the chances of Bitcoin rising to $200,000 in the short term are slim. In fact, he says it could take years before that milestone is reached.
Brandt Tempers Bitcoin Expectations #
Brandt has been known for decades for his pragmatic view of market cycles. That’s why his analysis stands out, especially now when many other prominent names remain extremely bullish.
Brandt predicts that Bitcoin will only reach the $200,000 mark in Q3 2029. This contradicts expectations from analysts like Arthur Hayes and BitMine chairman Tom Lee, who recently expected Bitcoin to hit $200,000 this year. But that seems increasingly unlikely.
Brandt’s vision also goes against other influential figures in the sector. Coinbase CEO Brian Armstrong and ARK Invest founder Cathie Wood are even counting on a price of $1 million by 2030.
Nevertheless, he remains positive long-term. He even considers the current price decline healthy for the market, as it removes excesses and lays the foundation for future growth. Brandt previously compared the current situation to the soybean market of the 1970s, which fell fifty percent after a strong peak due to an increase in supply.
Bullish Sentiment Seems Increasingly Distant #
In early October, sentiment was clearly different. The price was moving upward and various indicators pointed to a possible bull market. As a result, many investors looked confidently toward the rest of the year.
Demand for Bitcoin continued to grow strongly. Especially exchange funds that hold Bitcoin as an underlying asset bought heavily. According to CryptoQuant data, these funds bought approximately 62,000 Bitcoin per month this year, largely coming from investment firms and large whales.
Although the current market looks completely different than last month, these signals show that a broader rise later this year still remains possible. But according to Brandt, that’s nowhere near enough to move toward $200,000.