Bitcoin News Today: Experts Split on Bitcoin’s $200K Outlook—Brandt Predicts 2029, Others Hope for 2025

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Bitcoin News Today: Experts Split on Bitcoin’s $200K Outlook—Brandt Predicts 2029, Others Hope for 2025

Bitget-RWA2025/11/21 04:51

By:Bitget-RWA

- Bitcoin's $200,000 timeline divides experts: Peter Brandt predicts 2029 Q3, contrasting bullish 2025 forecasts from Hayes and Lee. - Current bearish indicators include broken support levels, a death cross pattern, and $2B+ crypto outflows amid retail ETF liquidations. - Brandt argues the 20% pullback below $93K mirrors historical commodity corrections, potentially setting up stronger long-term gains. - Diverging views reflect debates over adoption speed, institutional integration, and macroeconomic facto

The debate over when Bitcoin might reach $200,000 continues to divide analysts, with seasoned trader Peter Brandt predicting the cryptocurrency won’t hit that level until the third quarter of 2029—almost four years after the last halving. This outlook is much more conservative than the optimistic forecasts from industry leaders such as BitMEX co-founder Arthur Hayes and BitMine chairman Tom Lee, who

had anticipated Bitcoin would reach that price by the end of 2025

Brandt, sharing his perspective on X, highlighted the importance of a "healthy" correction as

Bitcoin

trades below $93,000, after

dropping 20% from its October high

of $125,100. He compared Bitcoin’s recent price movement to the soybean market in the 1970s, which experienced a 50% drop after peaking. Brandt stated, "This sell-off is the best scenario for Bitcoin,"

arguing that the current decline could pave the way

for a more robust bull market. His viewpoint is consistent with trends seen in commodities, where prolonged downturns often lead to significant rebounds.

Technical signals also point to ongoing bearish trends. Bitcoin has recently slipped below major support points, including the psychological $100,000 mark and its 200-day moving average, resulting in a

Bitcoin News Today: Experts Split on Bitcoin’s $200K Outlook—Brandt Predicts 2029, Others Hope for 2025 image 0

death cross formation that

has historically indicated prolonged declines

. Blockchain data from FlowDesk and Deribit further reveals ongoing selling from long-inactive wallets, with traders increasingly betting on further price drops

according to FlowDesk and Deribit’s data

Multiple factors have influenced Bitcoin’s recent price action, including institutional sell-offs and changing investor sentiment.

CoinShares noted $2 billion in weekly outflows

from Bitcoin and other digital assets, the largest since February 2025.

JPMorgan analysts largely attributed this wave of selling

to retail investors exiting their positions in spot Bitcoin and

ether

ETFs, with $4 billion pulled out in November alone. At the same time,

Bitcoin’s hash price

—a measure of mining profitability—has ranged from $39 to $44 per petahash per day, with an expected difficulty adjustment on November 26 that could impact its future trend.

Despite these challenges, Brandt and other supporters remain confident in Bitcoin’s long-term prospects. The Bitcoin Policy Institute recently

backed the "Bitcoin for America Act"

, which would permit federal taxes to be paid in Bitcoin and create a Strategic Bitcoin Reserve. Advocates believe this approach could help cement Bitcoin’s role as an institutional asset and provide a hedge against inflation, a sentiment

shared by Bitwise

, which called Bitcoin a "digitally native store of wealth."

However, not all industry leaders support Brandt’s 2029 projection.

Coinbase CEO Brian Armstrong and ARK Invest’s Cathie Wood

have both forecasted that Bitcoin could reach $1 million by 2030, a scenario that would require a much steeper rally than Brandt anticipates. These differing predictions highlight ongoing debates about Bitcoin’s adoption rate, institutional involvement, and broader economic influences.

As the market weighs these competing viewpoints, one thing is certain: Bitcoin’s road to $200,000 is unlikely to be straightforward.

Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.

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