Bitcoin News Today: Bitcoin's $200K Future Divides Experts: Brandt's 2029 vs. 2025 Optimism

Bitcoin's path to $200,000 remains a contentious topic among market observers, with veteran trader Peter Brandt insisting the cryptocurrency won't reach the milestone until the third quarter of 2029-nearly four years after the previous halving event. This forecast starkly contrasts with more bullish predictions from industry figures like BitMEX co-founder Arthur Hayes and BitMine chair Tom Lee, who had targeted the price level by year-end 2025.

Brandt's analysis, shared via X, emphasizes a "healthy" market correction as Bitcoin trades below $93,000, having fallen 20% from its October peak of $125,100. He drew parallels between Bitcoin's recent price action and the 1970s soybean market, which saw a 50% decline after a peak. "This dumping is the best thing that could happen to Bitcoin," Brandt argued, suggesting the current pullback could set the stage for a stronger bull run. His stance aligns with historical patterns observed in commodities, where extended downturns often precede significant recoveries.

Technical indicators further underscore the bearish momentum. Bitcoin recently broke below key support levels, including the $100,000 psychological barrier and its 200-day moving average, triggering a death cross pattern that historically signals extended downturns. On-chain data from FlowDesk and Deribit also highlights sustained selling pressure from long-dormant wallets, with traders increasingly positioning for further downside according to data from FlowDesk and Deribit.

The cryptocurrency's recent performance has been shaped by a confluence of factors, including institutional selling and shifting market sentiment. CoinShares reported $2 billion in outflows from Bitcoin and crypto assets in a single week, marking the largest exodus since February 2025. JPMorgan analysts attributed much of this selling to retail investors liquidating positions in spot Bitcoin and ether ETFs, with $4 billion withdrawn in November alone. Meanwhile, Bitcoin's hash price-a metric reflecting mining costs- has fluctuated between $39 and $44 per petahash per day, with a potential difficulty adjustment on November 26 likely to influence its trajectory.

Despite these headwinds, Brandt and others remain optimistic about Bitcoin's long-term potential. The Bitcoin Policy Institute recently endorsed the "Bitcoin for America Act", which would allow taxpayers to pay federal taxes in Bitcoin and establish a Strategic Bitcoin Reserve. Proponents argue this model could institutionalize Bitcoin's value while hedging against dollar inflation, a perspective echoed by Bitwise, which described Bitcoin's appeal as a "digitally native wealth-storage capability".

However, not all experts agree with Brandt's 2029 timeline. Coinbase CEO Brian Armstrong and ARK Invest's Cathie Wood have projected $1 million Bitcoin by 2030, a target that would require a far more aggressive rally than Brandt envisions. The divergence in outlooks reflects broader debates about Bitcoin's adoption curve, institutional integration, and macroeconomic tailwinds.

As the market digests these conflicting narratives, one thing remains clear: Bitcoin's journey to $200,000 will be anything but linear.