Peter Brandt: BTC to hit $200K in 2029, not this year

Prominent U.S. trader Peter Brandt has predicted that Bitcoin will not reach $200,000 this year, forecasting instead that the asset will hit that price level around the third quarter of 2029 during the next anticipated bull market. In a post on X, Brandt described the recent BTC correction as a market reset process that is positive for the mid-to-long-term trend. He noted that the current BTC chart shows a similar pattern to the soybean market of the 1970s, which fell 50% after reaching its peak. Brandt added that current volatility is being amplified by a combination of deleveraging and institutional selling pressure.