 
 
While some industry experts believe Bitcoin is poised to smash $200,000 before the end of 2025, veteran analyst Peter Brandt believes that figure is now unlikely. For Brandt, BTC may take almost four years before reaching the magic number.
$200,000 BTC Target Unlikely In 2025
“The next bull market in Bitcoin should take us to $200,000 or so. That should be in around Q3 2029,” he wrote in a Nov. 21 post on X.
Despite his rather bearish projection, Brandt stressed that he is still a “long-term bull on Bitcoin.”
Bitcoin was trading hands around $85,105 at press time and is down 32.8% from its all-time high above $126,000 reached in October 2025. Adding pressure to the market decline is souring market sentiment, driven partly by reduced institutional demand.
The 11 U.S.-listed spot Bitcoin exchange-traded funds (ETFs) have collectively seen record withdrawals of $3.79 billion in November, surpassing February’s previous peak of $3.56 billion.
 
But according to Brandt, the recent crypto sell-off could be a mere dip within a long-term uptrend. In fact, he described the current drawdown as a healthy development for BTC.
“This dumping is the best thing that could happen to Bitcoin,” Brandt opined.
Other Pundits Disagree
Brandt’s prediction contrasts significantly with recent calls for stratospheric upside. Just recently, prominent Bitcoin advocates claimed the top crypto could still reach $250,000 before year-end.
In August, for instance, Cardano creator Charles Hoskinson reckoned Bitcoin was headed to $250,000 during the current bull cycle, citing BTC-based decentralized finance (DeFi) as the “big driver” for the asset’s projected parabolic growth.
And in early June, billionaire investor Tim Draper reiterated his prediction that Bitcoin would top $250K this year.
Meanwhile, some analysts aren’t that concerned about what Bitcoin’s price ends up being by the end of 2025.
“Anyone who thinks Bitcoin has to peak in Q4 of this year does not understand statistics or probability. The halving is completely irrelevant at this point, and there is zero fundamental reason—other than a psychological, self-fulfilling prophecy — for the peak to occur in Q4 2025,” said PlanC on X.