TLDR:
- Analyst who called $100K Bitcoin in 2022 now forecasts $400,000 price target by February 15, 2029.
- Pro-Bitcoin appointments across SEC, Fed, and White House create favorable regulatory environment for growth.
- Gold’s historic rally against Bitcoin typically precedes cryptocurrency doubling in value relative to metals.
- Traditional finance infrastructure through ETFs and bank custody makes Bitcoin more accessible than ever before.
Bitcoin advocate Luke Broyles has issued fresh predictions for the cryptocurrency’s trajectory, suggesting current price levels represent an attractive entry point for investors.
The analyst, who accurately forecasted Bitcoin’s climb to $100,000 from its $16,000 bottom in late 2022, now projects the digital asset could reach $400,000 by February 2029.
His analysis centers on shifting regulatory landscapes and macroeconomic conditions favoring cryptocurrency adoption.
Institutional Adoption and Political Support Drive Bullish Outlook
Broyles outlined several factors supporting his optimistic price forecast in a recent social media post. The analyst pointed to pro-Bitcoin appointments across key US regulatory positions, including the Securities and Exchange Commission and Federal Reserve.
“Trump wants to lower DXY—Pro-Bitcoin SEC, Fed Chair, President, Senators, etc. Interest rates looking to lower,” he wrote. These political shifts mark a departure from previous regulatory uncertainty that plagued the sector.
The cryptocurrency has already demonstrated remarkable resilience since bottoming at $16,000 in January 2023. Current prices around $81,000 represent a fivefold increase over that period.
Despite this performance, Broyles argues mainstream sentiment remains cautiously negative or neutral toward Bitcoin. “Nothing has changed other than the fact your portfolio is now worth 70% less in Bitcoin terms over the last 3 years,” he stated. This disconnect between price action and public perception creates opportunity for informed investors.
Traditional finance infrastructure has increasingly embraced digital assets through exchange-traded funds and bank custody services.
This institutional onboarding provides legitimacy and accessibility that previous market cycles lacked. “Banks and companies are onboarded. ETFs and BTCTCs being available to most,” Broyles noted.
The combination of regulatory clarity and accessible investment vehicles differentiates current market conditions from earlier speculative periods.
Gold’s extended rally against Bitcoin historically precedes strong cryptocurrency performance, according to the analyst’s research. “Gold is finishing its highest and longest run ever in Bitcoin’s history – and that’s usually good for Bitcoin,” he explained.
When Bitcoin breaks out against precious metals, it typically doubles in value relative to gold. This pattern suggests potential upside to $400,000 based on current gold-Bitcoin ratios.
Fiat System Pressures and Strategic Positioning
The analyst framed Bitcoin’s appeal through monetary policy constraints facing traditional financial systems. Central banks need to originate trillions in new loans while most conventional assets already carry elevated valuations and leverage.
“The fiat system needs to originate trillions of new loans and virtually every other asset other than Bitcoin is already pumped up with leverage,” Broyles observed. T
his dynamic creates what he termed a “Cantillionaire gameplan” where newly printed currency flows disproportionately into Bitcoin.
Broyles projected 2026 will be remembered as an advantageous accumulation period for the next three to five years. “My guess is that 2026 marks the best year to buy Bitcoin out of the next 3-5 years,” he stated.
His timeline suggests $400,000 Bitcoin would arrive 1,476 days from the $20,000 level, compared to the 1,112 days already elapsed since that threshold. This temporal analysis supports his assertion that investors stand closer to higher prices than to recent lows.
The analysis concluded with observations about behavioral patterns among cryptocurrency skeptics. “When the first two predictions come true most people that were naysayers back in 2022 at $16,000 per Bitcoin and today at $81,000 per Bitcoin will still be ignoring what I am saying,” Broyles predicted.
He encouraged investors holding zero Bitcoin allocation to establish positions, suggesting current market conditions favor strategic entry despite already substantial gains from previous lows.
The post Bitcoin Could Hit $400,000 by 2029 as Analyst Cites Regulatory Shifts and Institutional Adoption appeared first on Blockonomi.
Source: https://blockonomi.com/bitcoin-could-hit-400000-by-2029-as-analyst-cites-regulatory-shifts-and-institutional-adoption/
