Peter Brandt: Bitcoin will reach $ 200,000 in just four years

Famous trader Peter Brandt has been skeptical about forecasts of rapid growth of bitcoin BTC $82,656.85 Mezo Wrapped BTC -6.35% Market capitalization $41.26 million VOL. 24 hours $6.84 billion , saying that the price of the flagship cryptocurrency is unlikely to reach $ 200,000 by the end of 2025. In his opinion, the next real bull market may not begin until 2028−2029, and Bitcoin will not reach its peak of around $ 200,000 until the third quarter of 2029.

Brandt, who has more than 40 years of experience in financial markets, emphasized that despite the current correction, he remains a long-term bull on BTC. His forecast differs significantly from the estimates of such well-known figures as BitMEX co-founder Arthur Geis or BitMine CEO Tom Lee, who expect bitcoin to reach $ 200,000 by the end of next year. Even more optimistic are the forecasts of Coinbase CEO Brian Armstrong and ARK Invest CEO Katie Wood, who predict $ 1 million per bitcoin by 2030.

Over the past month, Bitcoin has lost more than 20% of its value, dropping from a high of $ 125,100 on October 5 to about $ 85,800 at the time of publication. Brandt sees this drop not as a crisis, but as a «healthy market renewal.» He compared the situation to the soybean market of the 1970s, when a sharp peak was followed by a 50% decline, which subsequently paved the way for a new growth cycle.

An additional factor of pressure on the market was the activity of one of the oldest bitcoin «whales» — trader Owen Ganden, who, according to Arkham Intelligence, sold about 11,000 BTC (over $ 1.3 billion). His transfers to the Kraken exchange, which began in late October, reduced his on-chain valuation from $ 1.4 billion to $ 561 million and heightened fears of further sell-offs.

Other major players have also adjusted their forecasts amid increased pressure from institutional sales and lower volatility. Katie Wood reduced her long-term target for BTC from $ 1.5 million to $ 1.2 million, and Galaxy Digital lowered its year-end expectations from $ 185,000 to $ 120,000. Thus, Brandt’s forecast of a delayed peak until 2029 is looking increasingly realistic — while the market is going through a deep cooling phase before the next potential growth cycle.