Fidelity says bitcoin holds $60,000 support, could hit $300,000 in 2029

A forecast has emerged that bitcoin could reach $300,000 by 2029.

On Sept. 26 (local time), blockchain media outlet U.Today reported that Jurrien Timmer, director of global macro at Fidelity Investments, judged that bitcoin has ended a localized weak trend and is ready to enter a long-term uptrend phase.

The core of the forecast is the $60,000 level. Timmer defined this price zone as a "line in the sand." He said the market defended the area, suggesting selling pressure has weakened, and that the validity of the power law model has been reaffirmed. He saw a path opening toward a new record high as bitcoin held this support level.

On the chart, a weekly reversal pattern drew attention. Bitcoin rose to $126,251 in 2025 before giving up more than half its value in a correction phase. It then formed local lows twice in the $57,742 to $60,033 range, creating a typical double-bottom pattern. Institutional investors are described as viewing this point as a key reversal signal.

The near-term pivot is resistance at $82,000 to $86,000. The current price is trading around $82,266, the pattern's neckline. Market analysts see the potential for a technical rise toward the psychological resistance level of $100,000 if it clearly breaks above $82,500. An assessment was also presented that, by Wall Street standards, such a break could be interpreted as a signal that a capital accumulation phase has ended.