Bitcoin to Hit $300,000 by 2029: Fidelity Director Backs Target With Pure Math

Bitcoin has completed its local bearish trend and is ready for long-term growth to $300,000 by 2029. That is the conclusion reached by Jurrien Timmer, director of global macro at Fidelity Investments, in his latest technical report. Timmer backs up this ambitious target with pure mathematics: holding critical support at $60,000 fully confirms the strength of the Power Law model and opens the way to new all-time highs.

Institutional investors are focused on the asset's major reversal pattern on the weekly chart. After reaching an all-time high of $126,251 in 2025, Bitcoin lost more than half its value during the correction. However, local lows in the $57,742–$60,033 range formed a classic double bottom.

Fidelity urges investors not to focus on short-term crashes. It has a logarithmic ruler that predicts growth by multiples

Timmer calls the $60,000 mark a critical "line in the sand." The fact that the market defended this level signals that selling pressure is fading. Weekly stochastic indicators (Fast %D and Slow %D) have already moved out of oversold territory, confirming a resumption of large-scale buying supported by long-term mathematical trends.

The market's short-term trigger is a test of resistance in the $82,000–$86,000 range. The asset is now trading close to the pattern's neckline at $82,266.