Cryptocurrency Expert Predicts When Bitcoin Will Hit $250,000

In the world of cryptocurrency, long-term price forecasts for Bitcoin spark significant interest. Recently, experienced trader Peter Brandt made a bold prediction about the timeline for Bitcoin to reach the substantial milestone of $250,000.

Key Takeaways

Peter Brandt forecasts Bitcoin will reach $250,000 by late 2029.
His prediction aligns with a bullish trend established over the past decade.
Scottie Pippen’s chart comparison links Bitcoin’s current structure with its past performance in 2020.
Variations in predictions exist, with some analysts suggesting an earlier target date around 2027.

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This assertion came after NBA legend Scottie Pippen shared a fascinating chart on social media, illustrating a striking similarity to Bitcoin's current structure. Brandt endorsed Pippen's insights and provided a specific timeline for when Bitcoin could ultimately surpass $250,000.

Power Law Projections Indicate a Breakthrough by 2029

Peter Brandt, a seasoned financial analyst, suggests that Bitcoin is poised to exceed $250,000 by the end of 2029. He conveyed this prediction concisely, supported by a weekly candlestick chart he shared to illustrate his analysis.

The chart reveals that Bitcoin is operating within a broad upward channel that has defined its macrostructure for over a decade. The lower boundary, highlighted in green, consistently appears as a support zone during significant consolidation phases. Meanwhile, the upper red band connects the various peaks reached throughout the years.

“Scottie, buy the Banana, then off to $250,000-plus by late 2029,” tweeted Brandt on February 21, 2026.

This current structure indicates a bearish trend for Bitcoin following a significant multi-year surge that peaked at the end of 2025. Brandt's projections extend the channel through to 2029, with the median band of the channel aligning with the $250,000 price level.

While discussions about Bitcoin reaching $250,000 are common among cryptocurrency market participants, estimates vary on when this milestone will be achieved. For instance, Tom Lee of Fundstrat also predicts that Bitcoin is on the verge of reaching $250,000 but issues a cautionary note. Galaxy Digital analysts mention this target as well, but with a shorter timeline, around 2027, coupled with expectations of a tumultuous year in 2026 before any substantial recovery.

Scottie Pippen’s 2020 Comparison Sparks Predictions

Brandt’s projections were triggered by Scottie Pippen's recent post comparing the current configuration of Bitcoin to its structure in 2020. In Pippen’s comparative graph, the left panel illustrates Bitcoin CME futures from mid-2020, showcasing a solid base before the ascent that peaked in 2021. The right panel depicts the price movements of 2026, presenting a similar consolidation pattern above a green support zone.

This visual comparison suggests that Bitcoin is currently in a pre-breakout phase akin to that of 2020. Back then, Bitcoin experienced months of consolidation before embarking on a parabolic rise. Therefore, while long-term forecasts remain bullish, it is highly likely that Bitcoin will continue its consolidation around the current price level before experiencing a significant upward movement, similar to what occurred in 2021.

As of the writing of this article, Bitcoin's price is settling below $70,000, trading at $66,150, reflecting a 1.8% decline over the past 24 hours.

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Bitcoin is trading at $66,306 on the daily chart | Source: BTCUSDT on Tradingview.com