Veteran trader Peter Brandt has expressed skepticism regarding Bitcoin reaching the $200,000 mark before the end of the current year. In a recent social media statement, Brandt asserted that such a price level for Bitcoin is not anticipated in the near future. He forecasts that it could take up to four additional years for the cryptocurrency to achieve this target. According to Brandt, the next substantial bull market cycle is what could propel Bitcoin to approximately $200,000, but he places this event in the third quarter of 2029.
Full disclosure folks
Of my maximum ever Bitcoin position I still own 40%, at a price 1/20th of Saylor's avg buy.
I am a long-term bull on Bitcoin. This dumping is the best thing that could happen to Bitcoin. The next bull market in Bitcoin should take us to $200,000 or so. That…— Peter Brandt (@PeterLBrandt) November 21, 2025
A Stark Contrast to Other Industry Predictions
This forecast presents a significant divergence from the predictions made by several other influential figures within the cryptocurrency space. Notably, Arthur Hayes, the co-founder of BitMEX, and Tom Lee, the chair of BitMine, have both voiced strong confidence in Bitcoin reaching $200,000 before the close of 2023. Their optimistic outlook for the immediate future sharply contrasts with Brandt’s more conservative projection.
Furthermore, the discrepancy in expectations extends to other industry leaders. Brian Armstrong, the CEO of Coinbase, and Cathie Wood of ARK Invest, have projected that Bitcoin could potentially ascend to a remarkable $1 million by the year 2030. These estimates are not only more optimistic but considerably more ambitious than Brandt’s stance, which positions Bitcoin at substantially lower levels within the same timeframe.
Bitcoin's Current Downturn and Brandt's Perspective
In light of Bitcoin’s recent price struggles, Brandt’s cautious approach appears increasingly pragmatic. Following its all-time high of $125,100 on October 5, Bitcoin’s value has experienced a decline of over 30%. The price has fallen below $90,000, and recent reports indicate it stands at approximately $86,870. However, Brandt interprets this price correction as a beneficial market reset rather than an indicator of impending failure. He emphasized that such pullbacks are essential for Bitcoin’s sustained long-term growth, noting that similar corrections in the past have paved the way for significant future gains.
Brandt Draws Parallels to the 1970s Soybean Market
Brandt has also drawn a parallel between Bitcoin’s current market behavior and the soybean market during the 1970s. He pointed out that soybean prices reached a peak before experiencing a sharp 50% drop when global supply outstripped demand. This historical analogy serves as a backdrop for his more reserved Bitcoin forecast, suggesting that Bitcoin may be undergoing a similar period of market correction.
While Bitcoin has seen a decrease of more than 20% over the past month, Brandt’s long-term optimism for the cryptocurrency’s future remains steadfast. Despite the current downturn, he believes that the market reset could establish a solid foundation for future expansion. For the present, Brandt’s more tempered prediction implies that Bitcoin’s trajectory towards $200,000 will be a more extended and gradual process than many within the industry anticipate.