Peter Brandt: Bitcoin Will Not Reach $200,000 Before 2029
Veteran trader Peter Brandt has delivered a sober long-term forecast that challenges the prevailing optimism in the crypto market. While several high-profile analysts expect six-figure prices in the current cycle, Brandt argues that Bitcoin will not reach $200,000 before the third quarter of 2029.A Long-Term Bull With a Cautious Timeline
Brandt emphasized that he remains a long-term Bitcoin bull, but warned that investors should not expect rapid exponential growth in the near term. According to his projection, the next major bull cycle will eventually push Bitcoin toward the $200,000 level, but only after several years of market development and structural consolidation.A Sharp Contrast to Ultra-Bullish Predictions
The forecast stands in stark contrast to recent calls from some of the industry’s best-known optimists. BitMEX cofounder Arthur Hayes and BitMine chairman Tom Lee previously suggested that Bitcoin could reach $200,000 by the end of this year. Coinbase CEO Brian Armstrong and ARK Invest founder Cathie Wood have gone even further, arguing that $1 million per Bitcoin is possible by 2030.Brandt’s projection places Bitcoin at only a fraction of those lofty targets within the same general time frame, highlighting the gap between historically grounded analysis and speculative enthusiasm.
Cycle Structure Over Hype
Brandt is known for his disciplined approach to long-term market structure, drawing on decades of charting experience. He argues that Bitcoin’s behavior still follows multi-year cyclical patterns, which include extended phases of consolidation, deep corrections, and gradual rebuilds of market conviction. In his view, such cycles cannot be compressed simply because sentiment is bullish.Why 2029 Makes Sense to Market Veterans
The year 2029 aligns with expectations for a late-cycle expansion following the upcoming halving cycles. Historically, Bitcoin has needed time to absorb speculative excess, shake out weak hands, and reset liquidity conditions. Brandt’s forecast suggests that the next true parabolic phase is still several years away, allowing for a healthier and more sustainable price foundation.Implications for Traders and Investors
Brandt’s comments serve as a reminder that patience often outweighs short-term speculation. For long-term holders, the projection supports the idea that structural upside remains intact despite current volatility. For short-term traders, it warns against relying on overly optimistic time horizons or aggressive leverage strategies.Whether Bitcoin reaches $200,000 sooner or follows Brandt’s slower trajectory, his analysis adds a grounded perspective to an environment often dominated by sensational forecasts.
Editorial Team — CoinBotLab