Bitcoin won’t hit $200K until Q3 2029: Veteran trader Peter Brandt

💡 DMK Insight

Bitcoin’s recent price drop might seem alarming, but it could actually set the stage for a stronger recovery. This ‘dumping’ phase often shakes out weak hands, creating a healthier market foundation. Historically, significant sell-offs have led to accumulation phases where savvy traders position themselves for the next bull run. If Bitcoin can stabilize above key support levels, say around $30,000, it could attract institutional interest again. Watch for volume spikes as a signal of renewed buying pressure. But here’s the flip side: if Bitcoin fails to hold these levels, we could see further downside, potentially testing lower supports. Keep an eye on macroeconomic indicators, especially interest rates and inflation data, as they could impact risk appetite across crypto and equities. The $200,000 target is ambitious, but patience is key; it might take years, not weeks, for Bitcoin to get there. For now, monitor the $30,000 support closely and look for signs of accumulation in the coming weeks.