Bitcoin $200K Target Pushed to 2029 Amid Market Crash

Peter Brandt’s revised prediction represents a significant departure from his previous bullish stance, where he had anticipated Bitcoin reaching $200,000 by 2025 following what he identified as a decisive breakout from a 15-month price channel. The timing of his updated forecast coincides with extreme market turbulence, with Bitcoin’s sharp decline contributing to a broader crypto market cap retreat below $3 trillion. Brandt’s tempered expectations reflect the challenging market conditions characterized by mounting macroeconomic uncertainty and risk-off sentiment across global financial markets.

Despite the downward price pressure, Brandt disclosed that he maintains 40% of his largest-ever Bitcoin position, acquired at an entry price he describes as roughly ‘1/20th of Michael Saylor’s average buy.’ This disclosure underscores his continued long-term confidence in Bitcoin despite the current market weakness. The trader framed the ongoing sell-off as ‘the best thing that could happen to Bitcoin,’ suggesting the downturn represents a necessary market reset that will ultimately strengthen Bitcoin’s foundation for future growth.

Adding to the bearish sentiment, crypto analyst Ali Martinez has identified a critical technical warning flashing on Bitcoin’s weekly chart. The SuperTrend indicator has turned bearish, a signal that has historically preceded significant corrections in the BTC market. Martinez’s analysis reveals that this pattern has demonstrated remarkable consistency over more than a decade, with each bearish trigger on the weekly timeframe leading to substantial price declines ranging from double-digit percentages to deep multi-month corrections.

The historical precedent for this technical signal stretches back to early Bitcoin cycles in 2014, 2018, 2021, and 2022, with each instance marking the beginning of significant market retracements. The emergence of another bearish trigger at current price levels validates concerns that the latest pullback may represent more than just short-term volatility. Martinez’s findings come as ‘extreme fear’ grips the cryptocurrency market, amplifying the negative sentiment surrounding Bitcoin’s near-term prospects.

The current market downturn has been amplified by mounting macroeconomic uncertainty, particularly concerns about whether the US Federal Reserve will be able to deliver anticipated interest rate cuts amid persistent inflation and overheated AI-driven equity valuations. These macroeconomic pressures have pushed global markets into a tense, risk-off environment, triggering a broad-based meltdown across multiple asset classes, including cryptocurrencies. The interconnected nature of these market movements highlights Bitcoin’s increasing correlation with traditional financial markets during periods of heightened volatility.

Brandt’s revised forecast contrasts sharply with previous optimistic predictions from other prominent crypto figures. In April, Cardano founder Charles Hoskinson projected that Bitcoin could surge to $250,000 by late 2025, citing regulatory progress, geopolitical tensions, and rising global crypto adoption as crucial drivers. Similarly, longtime Bitcoin advocate Max Keiser had doubled down on his call for $220,000 in 2025, arguing that BTC’s price movement since his 2022 forecast validated his view. These ambitious predictions now appear increasingly distant as market conditions deteriorate.

The collective reassessment of Bitcoin’s near-term potential reflects the challenging environment facing cryptocurrency markets. As technical indicators flash warning signals and macroeconomic headwinds intensify, even seasoned market participants like Peter Brandt are adjusting their expectations. However, the maintained long-term bullish stance from key market observers suggests that while the timeline may have extended, the fundamental conviction in Bitcoin’s eventual ascent remains intact, albeit with a more realistic appreciation of the challenges ahead.