Trader Peter Brandt: Bitcoin will not break $200,000 until Q3 2029

Jinse Finance reported that well-known trader Peter Brandt stated he does not believe bitcoin will break through $200,000 by the end of the year as some cryptocurrency industry executives have predicted. In fact, he believes it may take nearly four more years to reach this price. Brandt said in a post on the X platform (formerly Twitter) on Thursday: "The next bitcoin bull market should push its price to around $200,000, and this is expected to occur around the third quarter of 2029." At the same time, he emphasized that he is a "long-term bitcoin bull." Brandt's prediction is notable for several reasons. Many well-known bitcoin supporters, such as BitMEX co-founder Arthur Hayes and BitMine chairman Tom Lee, have previously predicted that bitcoin would reach at least $200,000 by the end of this year. As recently as October, Lee and Hayes reiterated their confidence in this forecast.