Expert Predicts Bitcoin Could Hit $250,000 by 2029

Bitcoin's price has shown signs of a mild recovery, trading above key moving averages and displaying positive momentum indicators according to analysis. As of early March 2026, Bitcoin is trading near $68,500, holding above the 50-period EMA. The RSI is at 60, indicating positive momentum without overbought conditions.

Technical indicators suggest a potential short-term uptrend if Bitcoin breaks above current resistance levels. The MACD line remains above the signal and zero lines, reflecting strengthening upside pressure. Analysts are watching for a breakout above $68,500, with a potential target at $71,600.

Veteran trader Peter Brandt has predicted that Bitcoin could reach $250,000 by late 2029. This forecast is based on a long-term price pattern known as the 'banana' channel, which has guided Bitcoin's price movements since 2012.

What Drives the $250,000 Target for Bitcoin in 2029?

Brandt's model assumes the continuation of a logarithmic growth corridor observed in previous cycles. Historical price patterns have shown Bitcoin trading within an upward-sloping channel defined by recurring support and peak levels. The current price structure is viewed as a consolidation phase before a potential breakout. The 2026 halving event may also amplify this trajectory by reducing new Bitcoin supply.

Brandt's forecast was reinforced by NBA legend Scottie Pippen, who noted similarities between Bitcoin's 2020 and 2026 price consolidation patterns. Other analysts, including Tom Lee, have predicted a faster timeline, with a potential 2027 target. However, Brandt's model emphasizes a slower, historically consistent trajectory.

How Are ETF Inflows and Institutional Interest Affecting Bitcoin's Price?

Recent inflows into Bitcoin spot ETFs, particularly through products like IBIT and GBTC, have contributed to Bitcoin's rebound to around $68,000. This trend reflects growing institutional and retail interest, with potential for further gains if inflows continue. Daily ETF trading volumes have exceeded $4.3 billion, with IBIT leading in inflows.

ETF activity is now a key driver of Bitcoin's price, alongside offshore perpetual swaps. A sustained price above $68,000 and continued ETF inflows could support a credible path toward the $75,000–$80,000 range.

What Role Could Regulatory Developments Play in Bitcoin's Future?

The potential passage of the Clarity Act in the U.S. could reshape the regulatory landscape for digital assets. JPMorgan believes the bill could provide much-needed regulatory clarity and promote tokenization, encouraging greater institutional participation. The bill, which passed the House, has faced slower progress in the Senate due to disagreements over provisions, such as whether crypto trading platforms should be allowed to pay rewards for holding stablecoins.

Coinbase CEO Brian Armstrong initially withdrew support for the bill but recently indicated there is a 'path forward' for a compromise. JPMorgan notes that regulatory clarity could end 'regulation by enforcement' and support financial stability by addressing risks related to yield on stablecoin holdings.

What Are the Risks and Opportunities for Investors?

Despite recent gains, risks remain from macroeconomic shocks and regulatory developments. A sustained price above $68,000 and continued ETF inflows could support further gains. However, a breakdown below $60–$62k would signal insufficient demand and potential to reduce exposure.

Investors are also monitoring the impact of U.S. President Trump's proposed policy for Big Tech companies to supply their own power for data centers. This move could benefit energy and utility firms with contracts to build new power generation. Energy companies like NextEra Energy are already investing in power generation for data centers, and analysts recommend companies such as Constellation Energy, NRG Energy, and Vistra.

Bitcoin's trajectory will depend on a combination of technical, institutional, and regulatory factors. While the $250,000 target for 2029 is ambitious, it is grounded in historical price patterns and long-term market dynamics.