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Bitcoin News Update: Bitcoin's 2029 Projection: Brandt Views Correction as a Driver for Expansion

Bitcoin News Update: Bitcoin's 2029 Projection: Brandt Views Correction as a Driver for Expansion

Bitget-RWA2025/11/21 09:30
By:Bitget-RWA

- Peter Brandt revises Bitcoin's price target to $200k by Q3 2029, lagging peers' 2025 forecasts. - Current 20% price drop and historic institutional selling underscore market correction. - Contrasts with Armstrong/Wood's $1M 2030 projections; emphasizes structural reset necessity. - Bessent's Pubkey DC visit seen as institutional openness, but analysts doubt immediate impact. - Brandt remains long-term bullish, viewing correction as prerequisite for sustainable growth.

Experienced trader Peter Brandt has updated his

outlook, —a timeline that lags almost four years behind the optimistic predictions of many industry analysts. This perspective stands in stark contrast to the projections of BitMEX co-founder Arthur Hayes and BitMine chairman Tom Lee, both of whom have set their sights on the $200,000 mark by the end of 2025 . Brandt, on the other hand, argues that the ongoing correction in the market is a healthy and necessary adjustment, .

Over the last month, Bitcoin's value has dropped by nearly 20%, trading at $86,870 in late November 2025,

. This downturn comes after reaching a high of $125,100 in early October, with the decline intensified by significant institutional selling. Charles Edwards of Capriole Investments described this wave of selling as "historic" in magnitude .
Bitcoin News Update: Bitcoin's 2029 Projection: Brandt Views Correction as a Driver for Expansion image 0
Brandt compared Bitcoin’s current chart formation to the soybean market of the 1970s, . He cautioned that such fundamental resets often set the stage for significant bull runs.

Brandt’s projection is even more conservative than other bold long-term forecasts. Coinbase CEO Brian Armstrong and

Invest’s Cathie Wood have both suggested that Bitcoin could soar to $1 million by 2030 . In contrast, Brandt anticipates the cryptocurrency will be valued at about one-fifth of that figure by then. His viewpoint highlights a growing skepticism toward short-term bullish expectations, —including postponed interest rate cuts by the Federal Reserve—continue to pressure risk assets.

At the same time, the crypto sector has latched onto prominent events as possible indicators of institutional endorsement. U.S. Treasury Secretary Scott Bessent’s unexpected appearance at Pubkey DC, a Bitcoin-focused bar in Washington, was

. Bessent, a well-known advocate for Bitcoin, has previously and has been in favor of legislation such as the GENIUS Act. Still, some market observers warn that such actions may only be recognized as significant in hindsight, rather than having an immediate effect on prices, .

Negative sentiment is also being fueled by wider market trends. In recent weeks, alternative cryptocurrencies have outperformed Bitcoin,

. Peter Schiff, a persistent critic of Bitcoin, has reiterated his belief that tokenized gold is a better store of value, .

Despite the current wave of pessimism, Brandt continues to see himself as a "long-term bull" on Bitcoin,

. His projection for Q3 2029 reflects a patient stance, consistent with historical trends where extended downturns have preceded lengthy rallies. For now, the market remains split, as institutional selling and macroeconomic challenges put Bitcoin’s most steadfast believers to the test.

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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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