Fidelity Analyst Sees Bitcoin Soaring to $300K by 2029

A Fidelity analyst has predicted that Bitcoin will reach $300,000 by 2029. The prediction comes from Jurrien Timmer, the director of global macro at Fidelity.

Timmer's forecast is based on a historical growth model that he uses to project future prices. According to this model, Bitcoin's price has been following a power-law curve, where each cycle of growth is longer and more extreme than the last.

The model suggests that Bitcoin's recovery from its recent low around $60,000 marks the start of another bullish cycle. Timmer notes that if this cycle follows the historical pattern, it could lead to a price target of $300,000 by 2029.