Veteran crypto analyst and trader Peter Brandt has revealed when the Bitcoin price is going to reach $200,000. His prediction comes amid the BTC crash, with the flagship crypto dropping to a new low below $82,000 yesterday.
When the Bitcoin Price Will Reach $200,000
In an X post, Brandt stated that the Bitcoin price will reach $200,000 in the third quarter of 2029, which he expects to be part of the next bull market. The legendary crypto analyst also disclosed that he still owns 40% of his maximum-ever BTC holdings at a price 1/20th of Strategy’s average buy price of $74,433.
Meanwhile, despite the recent crash, Brandt declared that he remains a long-term Bitcoin bull. He remarked that the crash is the “best thing” that could happen to Bitcoin. Meanwhile, the veteran trader had earlier provided insights into how low the Bitcoin price could drop in this bear market.
In an X post, he stated that the implied targets for the Bitcoin price are $81,000 and $58,000. This came as he questioned whether BTC’s sweeping reversal on November 11, followed by 8 days of lower highs and the completion of a massive broadening top, qualifies as a bear market. He added that those who claim they will be big buyers at $58,000 will be pukers by the time BTC reaches $60,000.
Notably, a Bitcoin price crash to as low as $58,000 would put Michael Saylor’s Strategy’s BTC portfolio underwater. The veteran crypto analyst had previously warned that BTC could test Saylor “severely.” He issued this warning as he raised the possibility of BTC dropping below $50,00 if the recent violation of the parabolic advance was similar to previous events.
A BTC Bottom Might Be Near
In an X post, BitMEX co-founder Arthur Hayes stated that a bottom is near. However, he called for patience and urged investors to wait for U.S. stocks to correct before reentering the market. Hayes had noted the undershooting decline in liquidity for the flagship crypto and stated that AI tech stocks need to crater for more money printing to happen, which will inject liquidity into BTC.
Hayes had earlier predicted that the Bitcoin price could rally to between $200,000 and $250,000 by year-end if the Fed and Treasury accelerate their money printing. He indicated that this could happen if the broader risk markets implode. Notably, the Fed is expected to end quantitative tightening (QT) by next month, which marks a positive for risk assets like BTC.
At the time of writing, the Bitcoin price is trading at around $83,800, down over 2% in the last 24 hours, according to data from CoinMarketCap.
