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Veteran trader Peter Brandt urged Bitcoin bulls who are forecasting $250,000 in 2026 to temper expectations and focus on more realistic price targets, citing the lack of a clear bullish bottoming signal in the market.
Brandt, a technical analyst with nearly 50 years of experience, shared a daily chart on X showing Bitcoin trading in a defined channel pattern since late 2025.
“While it does not preclude further price gains, it is NOT a bullish bottoming pattern,” Brandt said. “Those of you predicting $250,000 in 2026 need to stop with the mushrooms.”
Brandt also previously pointed to an “investable low” for Bitcoin in September or October 2026. He added that, if the patterns persist, a major high could occur between $300,000 and $500,000 in late 2029.
Brandt’s comments come as several bullish Bitcoin targets have been revised downward. The article cited:
Separately, venture capitalist and Bitcoin bull Tim Draper projected Bitcoin would reach $250,000 in 18 months, targeting the end of 2027.
BitMEX co-founder Arthur Hayes, who reiterated a $250,000 Bitcoin target as recently as March 2026, has lowered his estimate. Speaking at the Bitcoin 2026 conference in Las Vegas, Hayes said banks with large balance sheets would continue issuing loans, supporting credit liquidity across the market.
He argued that the amount of new credit created would be “larger” than what could be destroyed by AI taking people’s jobs.
“That’s why I believe Bitcoin is going higher. I think my end of year price target is like $125,000,” Hayes projected.
At the time of writing, BTC was exchanging hands at $76,807.21, down 3.04% over the last 24 hours, according to Benzinga Pro.
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