Fidelity Executive Sees Bitcoin Hitting $100K as Power Law Pattern Emerges

Fidelity's Global Macro Director, Jurrien Timmer, has shared his optimistic outlook on Bitcoin's price trajectory.

According to Timmer, Bitcoin is approaching a critical technical level at $80,000. If this level holds above the support zone, it could confirm a double bottom formation on the chart, pointing towards a potential price target of approximately $100,000.

Timmer also referenced the 'power law' mathematical pattern in Bitcoin's long-term view. He stated that if Bitcoin maintains the $60,000 level, this model may indicate the start of a new cyclical bull market, potentially leading to a price target of around $300,000 for Bitcoin by 2029.