Bitcoin May Reach $300K by 2029, Fidelity's Timmer Predicts

Fidelity's Director of Global Macro Jurrien Timmer has made a bold prediction about Bitcoin's future price. According to his power-law model, Bitcoin could reach $300,000 by 2029, representing a roughly 3.5x jump from its current levels near $84,000.

Timmer's argument is based on two key factors: the extended period of consolidation above the $60,000 level and the positive 52-week Z-score of the BTC/gold ratio. The latter metric has historically signaled a cyclical bottom in Bitcoin's price.

The power-law model, which Timmer has been refining for years, assumes that adoption drives Bitcoin's price growth following a predictable curve when plotted on a log scale over long timeframes. This model is not influenced by macroeconomic noise or external events, but rather focuses on the historical pattern of adoption and growth.

Timmer's previous predictions have proven directionally accurate, and his framework deliberately avoids anchoring to short-term market fluctuations. If the BTC/gold Z-score signal proves reliable again, it suggests that the current price level around $84,000 represents a relatively early entry point in the new cycle.