Interesting thesis from experienced trader Peter Brandt: Bitcoin could break the $250,000 mark by 2029.

That's a pretty bold prediction, but Brandt has proven himself several times before — his crash call in 2018 was notably very accurate.

The statement was made in response to an optimistic tweet from NBA star Scottie Pippen.
Brandt uses his own channel model, which he developed — a kind of banana-shaped structure in the logarithmic chart, which has historically worked quite well to identify bottom points of bear markets.

What’s interesting: According to Brandt’s model, one should enter around $42,000 if they want to take advantage of this upward trend.
That would be the so-called "Banana" support level.
Currently, Bitcoin is trading at just under $78,000, still a good distance below this $250,000 forecast for 2029.

The model has worked impressively in the past to predict market lows.
Whether it will hold up this time with such an aggressive upward forecast like $250,000 remains to be seen.
But Brandt is definitely one of the traders to listen to on such matters.