Bitcoin is taking a nosedive, and the experts are having a field day-or should we say, a crypto carnival of chaos? 🎢🤡
Bitcoin has been on a rollercoaster lately, and not the fun kind-more like the “I’m going to throw up my lunch” kind. 🌭🤮 Traders are clutching their calculators and rethinking their life choices as the price plummets faster than a lead balloon. 🪂✈️
Enter Peter Brandt, the crypto sage with a timeline longer than a Tolkien novel. 🧙♂️📅 According to him, Bitcoin won’t hit $200K until 2029. Yes, you read that right-2029. By then, we’ll probably all be paying for our hovercraft repairs with Dogecoin. 🚀🛠️
Brandt’s Snail-Paced Prophecy
Peter Brandt, the man who probably still uses a flip phone, dropped this bombshell on X (formerly Twitter, because why not add more confusion?). 📱💣 He claims Bitcoin won’t reach $200K until the third quarter of 2029. Meanwhile, the rest of the crypto world is like, “Dude, we were expecting it by next Tuesday.” 🗓️😒
Brandt’s take is about as popular as a tax audit at a party. 🎉🤨 It’s a stark contrast to the likes of Arthur Hayes and Tom Lee, who were practically handing out $200K party hats back in October. 🎩🎈 And let’s not forget Coinbase CEO Brian Armstrong and Cathie Wood, who’re predicting $1 million by 2030. Because, you know, why not aim for the stars? 🌟🚀
Full disclosure folks-Of my maximum ever Bitcoin position, I still own 40%, at a price 1/20th of Saylor’s avg buy. I am a long-term bull on Bitcoin. This dumping is the best thing that could happen to Bitcoin. The next bull market should take us to $200,000 or so. That… 🦬💪
– Peter Brandt (@PeterLBrandt)
Brandt’s slow and steady approach gained traction because, well, the market’s been acting like a toddler having a tantrum since October. 😤👶 Bitcoin hit a high of $125,100 on October 5, only to faceplant to $88,000 by Wednesday. It’s now hovering around $86,870, according to CoinMarketCap. Or, as I like to call it, “just enough to buy a slightly used spaceship.” 🚀🛒
Why Brandt Loves a Good Crypto Crash
Brandt, ever the optimist, calls this crash “the best thing that could happen to Bitcoin.” 🌧️🌈 He’s like the guy who enjoys a good rainstorm because it’s “good for the plants.” 🌱🌧️ He still holds 40% of his largest Bitcoin position, which he bought at a price so low, it makes Michael Saylor’s average look like a splurge. 💸🛍️
Other analysts chimed in, saying these crashes are like a detox for the market-clearing out the excess leverage and leaving behind a stronger, more resilient Bitcoin. 🏋️♂️💪 Charles Edwards of Capriole Investments pointed out that institutional selling hit an all-time high on Coinbase. 📉💼
Bitcoin has _never_ seen this much institutional selling as a percentage of Coinbase Volume in all history. 📊💥
– Charles Edwards (@caprioleio)
Brandt even compared Bitcoin’s chart to the soybean market of the 1970s. Because, you know, nothing says “crypto analysis” like agricultural history. 🌾📈
Related Reading: Bitcoin Drops to $85K as Market Liquidations Hit $831M 💸💨
The Crypto Crash Heard ‘Round the World
The latest dip didn’t just hit Bitcoin-it was a sector-wide slap in the face. 😱🤚 Bitcoin fell to $85,738, losing over 13% in a week. Ethereum dropped to $2,806, down 14%, and XRP hit $1.98, shedding nearly 16%. It’s like a crypto fire sale, but no one’s buying. 🔥🛒
Total crypto value plummeted to $3.06 trillion, and market fear hit extreme levels for the second week straight. Over 221,000 traders faced liquidations worth $794 million in 24 hours. Ouch. 😖💔
Reactions to Brandt’s forecast were as varied as a bag of Halloween candy. 🍬🎃 Some traders called it a raw deal, while others said it doesn’t even beat inflation. A few die-hards backed his cycle view, saying a bottom in 2026 and a peak in 2029 sounds about right. And then there’s Bloomberg’s Mike McGlone, who’s predicting Bitcoin could drop to $10,000 if it follows its 2018 playbook. 📉🎭
McGlone blames rising token supply, weak macro conditions, and late-cycle ETF inflows for the turmoil. It’s like a perfect storm of financial FOMO and FUD. 🌪️😱
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2025-11-21 16:33