Bitcoin’s long-term price outlook is a major talking point, with veteran dealer Peter Brandt just lately floating a daring timeline for when the main cryptocurrency may hit $250,000. The remark got here in response to a chart shared on X by NBA legend Scottie Pippen, who confirmed how Bitcoin’s present construction seems acquainted. Brandt not solely agreed with Pippen, he additionally hooked up a projection that factors to a particular 12 months for a when the Bitcoin value will finally commerce above $250,000.
Energy Regulation Projection Factors To 2029 Breakout
In response to veteran monetary analyst Peter Brandt, Bitcoin is on observe to setting off to $250,000-plus by late 2029. He solely famous this with a easy sentence, however the projection to $250,000 is seen within the weekly candlestick value chart he shared alongside his prediction.
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The chart shared by Brandt exhibits Bitcoin buying and selling inside a broad upward-sloping channel that has outlined its macrostructure for over a decade. The decrease boundary, highlighted in inexperienced, seems to behave as a recurring help zone throughout main consolidations. The higher pink band connects the totally different peaks through the years.
The present construction is enjoying out in a approach the place Bitcoin has been trending downwards after a robust multi-year advance that peaked in late 2025. Brandt’s projection extends the channel ahead into 2029, the place the center band of the channel intersects close to the $250,000 value stage.
$250,000 is a recurring Bitcoin value goal amongst crypto individuals, though the predictions have totally different timelines as to when Bitcoin will attain this value stage. As an illustration, Fundstrat’s Tom Lee can be of the notion that Bitcoin will commerce at $250,000 quickly, though this came with a warning. Analysts at Galaxy Digital have additionally floated the identical goal, although on a faster timeline round 2027. That projection, nevertheless, got here with expectations of an unstable 2026 earlier than any sturdy rally.
Scottie Pippen’s 2020 Comparability
Brandt’s forecast was triggered by Scottie Pippen’s publish evaluating Bitcoin’s present setup to its 2020 construction. In Pippen’s side-by-side chart comparability, the left panel exhibits Bitcoin’s CME Futures in mid-2020 forming a base earlier than launching into the rally that culminated within the 2021 highs.
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The fitting panel, which exhibits present value motion in 2026, depicts an analogous consolidation sample above a inexperienced help zone. The visible comparability means that Bitcoin is now in a comparable pre-breakout part prefer it was in 2020.
In 2020, Bitcoin consolidated for months earlier than breaking right into a parabolic transfer. As such, though the long-term view is bullish, there’s a excessive likelihood that Bitcoin will continue to consolidate round its present value stage earlier than happening an aggressive 2021-style rally. On the time of writing, Bitcoin is consolidating beneath $70,000. The main cryptocurrency is at the moment buying and selling at $66,150, having lost 1.8% of its value in the previous 24 hours.
Featured picture from Pixabay, chart from Tradingview.com
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