The veteran trader Peter Brandt has once again drawn the market's attention by predicting that Bitcoin

(BTC) could reach US$ 200 million, but only in four years.

The optimistic outlook comes at a time when the world's largest cryptocurrency is facing one of its most difficult periods in 2025.

Currently traded around US$ 85 million, BTC has fallen to levels not seen since April, accumulating more than 24% decline in the fourth quarter, contrary to the historical pattern that usually delivers strong gains at this time of year.

The recent movement has been exacerbated by large investor sell-offs and nearly US$ 1 billion in liquidations.

Brandt states that the recent behavior, a strong reversal on November 11 followed by eight days of descending peaks, may indicate the beginning of a bear market.

He points out two critical levels of decline: US$ 81 million and US$ 58 million, warning that investors who today promise to buy at lower prices will likely panic if the asset actually drops down to those levels.

Still, the trader emphasizes that he maintains 40% of his largest historical position in BTC and considers the current correction "one of the best possible developments" to prepare for the next bull cycle.

For Brandt, the next significant bull market should take Bitcoin to around US$ 200 million, around the third quarter of 2029, a longer prediction than many expected.

Other analysts have also revised their projections downwards.

• Cathie Wood (ARK Invest) has reduced her long-term target from US$ 1.5 million to US$ 1.2 million by 2030.

• Alex Thorn (Galaxy Digital) cut the end-of-2025 forecast from US$ 185 million to US$ 120 million.

With macroeconomic pressures, institutional selling, and intense liquidations, BTC continues to struggle to find solid support, as investors try to understand whether the current decline represents just a stumble in the cycle or the beginning of a longer correction phase.