Veteran dealer Peter Brandt on Thursday laid out a a lot slower timetable for Bitcoin’s subsequent massive rally, saying it could possibly be across the third quarter of 2029 earlier than Bitcoin reaches $200,000.
Based on a submit on X, Brandt stays a long-term supporter of Bitcoin, however warns {that a} rise to $200,000 will take time.
A pointy decline after the October peak?
Bitcoin reached an all-time excessive of $125,100 on October fifth. It has since fallen greater than 25%, wiping out about $710 billion in market worth.
Based on Coingecko knowledge, the token was buying and selling at $83,500 at one level, however fell to $82,650 because the market moved. Costs have been rising and falling once more, leaving many merchants fearful about timing and threat.
Full disclosure everybody.
Of my largest Bitcoin place thus far, I nonetheless personal 40% and the value is 1/twentieth of Saylor’s common buy worth.
I am a long-term bull on Bitcoin. This dumping is one of the best factor that would occur to Bitcoin. Bitcoin’s subsequent bull run ought to be round $200,000. that…— Peter Brandt (@PeterLBrandt) November 21, 2025
Brandt referenced previous product patterns to get his level throughout. He in contrast Bitcoin’s habits to the soybean market of the Seventies, which noticed fast beneficial properties after which sharp declines when provide exceeded demand. In that episode, Brandt reminded his followers that soybeans have been down about 50% after their peak.
Technical alerts flip bearish
In the meantime, market evaluation agency CryptoQuant warned of a pullback as probably the most bearish part of the present bull market because it started in January 2023.
The corporate’s Bullscore index fell to twenty out of 100 final week, a stage that signifies weak spot demand, unfavourable worth momentum, and declining stablecoin liquidity.
The platform additionally famous that Bitcoin has fallen beneath its 365-day transferring common, a technical mark that held all through the early correction of this cycle.
Nonetheless, CryptoQuant CEO Ki Younger-joo just lately recommended that the market might not have formally entered bearish territory, illustrating how completely different views and interpretations could be.
Institutional gross sales add strain
Charles Edwards, founding father of Capriol Investments, warned of unusually excessive institutional promoting, saying, “Now we have by no means seen institutional promoting as a share of Coinbase’s quantity in historical past.”
Analysts say this development has made this reset even deeper than earlier pullbacks throughout the identical rally.
By no means earlier than in its historical past has Bitcoin seen such giant institutional sell-offs as a share of Coinbase buying and selling quantity. pic.twitter.com/YzSzpGQmBN
— Charles Edwards (@caprioleio) November 21, 2025
A veteran dealer’s cautious timeline
Brandt’s outlook stands in distinction to extra optimistic voices from the crypto business. The report revealed that BitMEX co-founder Arthur Hayes and market veteran Tom Lee have been amongst those that reiterated their hopes for $200,000 earlier than the tip of the yr.
Some individuals take into account pullbacks wholesome
Regardless of Bitcoin’s present downturn, Brandt mentioned the latest hearth sale was helpful. He claimed that by cleaning now, you’ll be able to eliminate extra and arrange extra highly effective strikes later.
Different in style numbers level to earlier objectives, with some predicting $200,000 by the tip of the yr, and a number of other, together with ARK Make investments’s Cathie Wooden and Coinbase head Brian Armstrong, predicting $1 million by 2030.
Different analysts pointed to a historic sample of painful corrections adopted by new beneficial properties, however added that the timing of the reversal was troublesome.
Featured picture from Unsplash, chart from TradingView
