Bitcoin Price Prediction Turns Bullish as Brandt Eyes $250K, BitMEX Lawsuit Alleges 622.66 BTC Losses

• Veteran trader Peter Brandt says Bitcoin could revisit the high-$40,000 range before rallying to $250,000-$300,000 by 2029
• BitMEX is facing a proposed class-action lawsuit alleging manipulated liquidations and trading practices that resulted in customer losses totaling 622.66 BTC
• The BitMEX lawsuit emerged hours after the exchange announced its shutdown, placing another legal spotlight on one of crypto’s longest-running derivatives platforms

Bitcoin (BTC) dominated Friday’s headlines from two very different directions. Fresh Bitcoin price prediction calls from veteran trader Peter Brandt pointed to a possible climb toward $250,000 over the next few years. This comes even though he warned the market may not have reached its bottom. Amidst this, crypto exchange BitMEX found itself back in court over allegations tied to 622.66 BTC in customer losses.

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Peter Brandt’s Bitcoin Price Prediction Targets $250K After Another Correction

Peter Brandt’s Bitcoin forecasts have carried weight for decades, and his latest outlook suggests the current cycle still has unfinished business. In a market update shared this week, Brandt said Bitcoin price could slide into the high-$40,000 range before beginning a longer-term advance.

But his long-term projection remains firmly bullish. Brandt expects Bitcoin to trade between $250,000 and $300,000 by 2029. Meanwhile, he noted that a $1 million valuation may not arrive until 2031 or 2032. The veteran trader argued that the market has yet to experience the type of panic selling and heavy trading volume that typically mark a lasting bottom.

Brandt’s comments arrive as institutional demand for Bitcoin continues to build. At press time, the world’s largest cryptocurrency was trading at $64,789.46 following a dainty gain of 2.6% over the past week.

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BitMEX Lawsuit Alleges Exchange Manipulated Bitcoin Liquidations

The bullish forecast unfolded alongside fresh legal trouble for BitMEX. A proposed BitMEX lawsuit filed in US federal court accuses the exchange and co-founders Arthur Hayes, Samuel Reed and Benjamin Delo of operating a hidden proprietary trading desk that allegedly traded against customers.

The complaint claims BitMEX deliberately triggered liquidations, froze servers during periods of market stress and caused customers to lose 622.66 BTC. Plaintiffs are seeking class-action status after the exchange announced it would shut down operations earlier the same day.

BitMEX has faced regulatory scrutiny before. In 2021, the company and its founders reached settlements with US regulators over anti-money laundering and compliance failures. This marked one of the crypto industry’s highest-profile enforcement actions.

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