Fidelity’s Timmer: Bitcoin could reach $300,000 by 2029
4.1 Markets Fidelity’s Jurrien Timmer projects Bitcoin could hit $300,000 by 2029, citing technical signals, the Power Law model, and strong support at $60,000 as signs of a new bullish cycle.
Jurrien Timmer of Fidelity Investments predicts that Bitcoin could reach $300,000 by 2029. His projection relies on technical analysis and the Power Law model, which applies logarithmic linear progression and compares Bitcoin’s performance to gold. Timmer emphasizes the importance of Bitcoin maintaining support above $60,000, calling it a “line in the sand.” This level signals the potential end of a local bearish trend and the beginning of a new bull cycle. He points to the formation of a double bottom pattern in the $57,742–$60,033 range and a positive shift in the 52-week Z-score of the BTC/gold ratio as key indicators of recovery and renewed buying interest. Timmer further notes that a close above $82,000 could confirm the double bottom and pave the way toward $100,000, with even greater upside possible. Institutional investors are closely watching these technical signals, and the defense of critical support levels suggests that selling pressure is easing, supporting a bullish long-term outlook for Bitcoin.
