Bitcoin To Hit $300,000 By 2029, Says Fidelity Global Macro

Bitcoin price predictions are rolling in as the market prepares to enter the 4th quarter. Market participants are largely bullish in the near term and long term. One such market player with an ultra-bullish Bitcoin prediction is Jurrien Timmer, Director of Global Macro at Fidelity.

In a post shared with his 221,000 followers, the Fidelity executive said Bitcoin’s power-law mathematical models continue to indicate a fresh cyclical bull market is underway, after the cryptocurrency held support above the $60,000 level. The same analysis points to a long-term price target of $300,000 by 2029.​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​

As the post reads: 

“Bitcoin’s power law math continues to suggest that a new cyclical bull market is underway after holding $60k, targeting $300k in 2029.” 

His recent assertion follows his observation that Bitcoin is currently pressing against a critical technical resistance zone near $80,000, a level market participants are closely monitoring for signs of a sustained breakout.

A decisive move and close above this threshold would validate a double-bottom pattern on the charts, a classic bullish reversal formation that often signals the end of a prior downtrend. Should that confirmation occur, technical projections point to an upside target in the region of $100,000.