Veteran trader Peter Brandt has tempered near-term expectations for Bitcoin (BTC) amidst the crash. He predicted that the next major bull market will not take the world’s leading crypto asset to $200,000 until around Q3 2029.
His comments came at a moment of extreme turbulence, with BTC sliding almost 10% in the past 24 hours and the broader crypto market cap falling back below the $3 trillion mark.
A Necessary Reset?
Brandt, who disclosed that he still holds 40% of his largest-ever Bitcoin position at an entry price roughly “1/20th of Michael Saylor’s average buy,” maintained his long-term bullish stance despite the ongoing sell-off. The acclaimed trader said that the current downturn is “the best thing that could happen to Bitcoin,” while framing it as a healthy reset before a more steady uptrend.
The latest rout has been amplified by mounting macro uncertainty, particularly concerns over whether the US Federal Reserve will be able to deliver rate cuts amid sticky inflation and overheated AI-driven equity valuations. These pressures have pushed global markets into a tense, risk-off environment, which, in turn, ended up triggering a broad-based meltdown across asset classes, including cryptocurrencies.
With his latest remarks, Peter Brandt has effectively walked back his own bullish projection from last year, when he predicted Bitcoin could reach $200,000 by 2025 following what he identified as a decisive breakout from a 15-month price channel. Several prominent crypto figures had issued similarly ambitious predictions that now appear increasingly out of reach.
In April, Cardano founder Charles Hoskinson projected that Bitcoin could surge to $250,000 by late 2025, citing regulatory progress, geopolitical tensions, and rising global crypto adoption as crucial drivers. A few months later, longtime Bitcoin advocate Max Keiser doubled down on his call for $220,000 in 2025, and added that BTC’s rise since his 2022 forecast validated his view.
Trouble Brewing
Crypto analyst Ali Martinez also observed a technical warning flashing on Bitcoin’s weekly chart as the SuperTrend indicator has flipped bearish, a signal that has historically led to major downturns in the BTC market. The metric illustrates more than a decade of consistent behavior.
Martinez found that every time the SuperTrend turns red on the weekly timeframe, Bitcoin follows with a significant correction, which often ranges from double-digit to deep multi-month declines. This pattern stretches back to early cycles in 2014, 2018, 2021, and 2022, and each marked the beginning of significant retracements.
The analyst’s latest data now shows another bearish trigger emerging at current price levels, which further validates concerns that the latest pullback may be more than just short-term volatility, as “extreme fear” gripped the market.