Bitcoin Price Forecasts Diverge Significantly
Veteran trader Peter Brandt has projected that Bitcoin will not reach the $200,000 mark until the third quarter of 2029. This forecast stands in stark contrast to more bullish predictions from prominent crypto executives who had anticipated such prices by the end of 2025. Brandt's timeline extends the expected achievement of this price point by nearly four years beyond current market expectations.
Despite setting this extended target, Brandt described himself as a long-term Bitcoin bull. His projection sharply diverges from predictions made by figures like Arthur Hayes, co-founder of BitMEX, and Tom Lee, chair of BitMine, both of whom maintained $200,000 targets for 2025 as recently as October. These differing viewpoints highlight a significant division in expert opinions regarding Bitcoin's near-term and long-term price trajectory.
The divergence in forecasts becomes even more pronounced when compared to projections from crypto executives such as Coinbase CEO Brian Armstrong and ARK Invest's Cathie Wood. Both anticipate Bitcoin reaching $1 million by 2030. Brandt's estimate places the price at five times lower than their million-dollar milestone, just one quarter before their projected target date.
Current Market Performance and Analysis
Bitcoin has experienced a steady decline since achieving its all-time high of $125,100 on October 5. According to CoinMarketCap, the cryptocurrency has since dropped to $82,870. The past 30 days have seen a total decline of 20.23%, with prices touching $88,000 on Wednesday before continuing their downward trend.
Brandt characterized the current market pullback as a healthy development for the asset, stating that the selling pressure represents the best possible outcome for Bitcoin's long-term trajectory. Other crypto analysts have also noted that historical reset periods often precede significant future gains, suggesting that this downturn may be a precursor to future growth.
The veteran trader previously drew parallels between Bitcoin's chart patterns and the 1970s soybean market. In that market, prices peaked before plummeting by 50% as global supply began to outweigh demand. Brandt suggested that similar dynamics could potentially unfold in crypto markets over the coming years.
Institutional Activity and Market Pressure
Charles Edwards, founder of Capriole Investments, noted that Bitcoin has never before experienced this level of institutional selling relative to Coinbase volume throughout its entire history. This observation points to unprecedented selling pressure originating from large holders who are exiting their positions. Such significant institutional movement can have a substantial impact on market sentiment and price action.