Peter Brandt, a respected veteran trader, is calling for Bitcoin to hit $250,000 by 2029. But here's the catch: he expects the market to grind through a prolonged bottoming phase that extends into September 2026 before that rally materializes.
This timeline matters because it suggests Brandt sees current prices as part of a longer consolidation rather than a local bottom. His call implies patience is required. Traders chasing a quick reversal could get whipsawed if the bottom truly stretches another 18+ months out.
The $250,000 target itself isn't extreme relative to Bitcoin's historical trajectory, but the extended sideways grind Brandt describes contrasts sharply with the narrative of a quick recovery that many in the market are betting on. This view suggests Bitcoin could see renewed selling pressure before any sustained upside.
Brandt's track record carries weight in crypto circles. His charts and long-term perspective influence how serious traders position themselves. If his timeline is right, holders currently underwater should prepare for an extended period of pain before the next major leg up.