🚀 $BTC Runway to $200K Could Stretch to 2029
Analyst Peter Brandt projects Bitcoin may not reach $200,000 until Q3 2029, despite being bullish long-term.
Recent Price Action:
• BTC peaked at $125,100 on Oct 5
• Dropped almost 25%, losing $710B in market value
• Currently trading near $82,650 – $83,500 (Coingecko)
Historical Comparison:
Brandt compares BTC to the 1970s soybean market, which surged quickly before a 50% post-peak drop when supply exceeded demand.
Bearish Signals:
• CryptoQuant calls this the largest negative move since Jan 2023
• Bull Score Index fell to 20/100 → poor spot demand, negative momentum, lower stablecoin liquidity
• BTC dipped below its 365-day MA, which historically held support
Institutional Impact:
• Charles Edwards (Capriole) notes record institutional selling as % of Coinbase volume
• Brandt sees current “detox” as healthy, removing excesses for stronger future growth
Contrasting Optimism:
• BitMEX co-founder Arthur Hayes & Tom Lee hoped for $200K before year-end
• ARK Invest’s Cathie Wood & Coinbase CEO Brian Armstrong eye $200K–$1M by 2030
⚡ Summary:
The market may face volatility short-term, but long-term trends could still support massive upside. BTC investors should expect swings and plan accordingly.
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