Veteran trader Peter Brandt has projected that Bitcoin could rise to $250,000 by the end of 2029, offering one of the more notable long-term price targets now circulating in the crypto market. The forecast came as Brandt responded to a bullish social media post from NBA legend Scottie Pippen, adding fresh momentum to the ongoing debate over Bitcoin’s next major cycle.
A long-range Bitcoin target from a well-known market voice
Brandt is widely followed in trading circles, in part because he is known for having correctly called Bitcoin’s 2018 crash. His latest outlook is not framed as a short-term trade, but as a multi-year projection based on chart structure. By pointing to a possible move toward $250,000 by late 2029, Brandt is signaling that he still sees substantial upside in Bitcoin over the longer horizon.
The “banana” support zone around $42,000
As part of that outlook, Brandt said buyers may want to watch the “banana” support level, which he places at roughly $42,000. The term refers to his proprietary Bitcoin channel model, where the lower boundary curves in a banana-like shape on a logarithmic chart. According to Brandt, this framework has previously helped identify bear market bottoms, making it a key reference point for investors tracking potential entry levels.
Why the call matters
The forecast adds a bold benchmark to the broader bullish narrative around Bitcoin, while also underscoring the continuing influence of technical chart models in crypto analysis. At the same time, any long-dated target remains highly conditional. Whether Bitcoin can approach that level will depend on future market cycles, capital flows, and broader macro conditions.
The source material also included a disclaimer stating that the content is for informational purposes only and does not constitute investment advice. For market participants, that means Brandt’s $250,000 target and the $42,000 support area may serve as analytical reference points, but not as guarantees of future performance.