Fidelity Director Sees Bitcoin Soaring to $300K by 2029

Jurrien Timmer, director of global macro at Fidelity Investments, predicts Bitcoin will reach $300,000 by 2029. This forecast is based on the Power Law model, which evaluates Bitcoin's price using logarithmic linear progression and a 52-week Z-score of its ratio to gold.

Timmer notes that Bitcoin has completed its local bearish trend and is ready for long-term growth. The market defended the critical support level at $60,000, signaling that selling pressure is fading.

The Power Law model shows that current price fluctuations are not random noise but regular cycles. Even previous deep drawdowns of 56% and 63% fit entirely within this framework.