Bitcoin’s long-term worth outlook is a significant speaking level, with veteran dealer Peter Brandt not too long ago 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 connected a projection that factors to a particular 12 months for a when the Bitcoin worth will ultimately commerce above $250,000.
Energy Legislation Projection Factors To 2029 Breakout
In line with veteran monetary analyst Peter Brandt, Bitcoin is on monitor 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 worth chart he shared alongside his prediction.
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The chart shared by Brandt reveals 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 assist zone throughout main consolidations. The higher pink band connects the completely different peaks through the years.
The present construction is enjoying out in a approach the place Bitcoin has been trending downwards after a powerful 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 worth degree.
$250,000 is a recurring Bitcoin worth goal amongst crypto individuals, though the predictions have completely different timelines as to when Bitcoin will attain this worth degree. For example, Fundstrat’s Tom Lee can also be of the notion that Bitcoin will commerce at $250,000 quickly, though this got here with a warning. Analysts at Galaxy Digital have additionally floated the identical goal, though on a quicker timeline round 2027. That projection, nonetheless, got here with expectations of an unstable 2026 earlier than any robust rally.
Scottie Pippen’s 2020 Comparability
Brandt’s forecast was triggered by Scottie Pippen’s put up evaluating Bitcoin’s present setup to its 2020 construction. In Pippen’s side-by-side chart comparability, the left panel reveals 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 reveals present worth motion in 2026, depicts an identical consolidation sample above a inexperienced assist 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 proceed to consolidate round its present worth degree earlier than happening an aggressive 2021-style rally. On the time of writing, Bitcoin is consolidating beneath $70,000. The main cryptocurrency is at present buying and selling at $66,150, having misplaced 1.8% of its worth in the previous 24 hours.
Featured picture from Pixabay, chart from Tradingview.com