Fidelity’s Jurrien Timmer predicts Bitcoin targets $300K by 2029

Jurrien Timmer, Fidelity’s Director of Global Macro, is making the kind of call that separates macro analysts from fortune tellers: he’s putting a number on it. His model projects Bitcoin reaching $300,000 by 2029, roughly a 3.5x jump from current levels near $84,000. The basis for his confidence isn’t vibes or chart astrology. It’s a power-law model he’s been refining for years, combined with a specific technical signal that has historically nailed market bottoms. The case for a new bull cycle Timmer’s argument rests on two pillars. First, Bitcoin held above the $60,000 level for nearly a year. That extended period of consolidation is what he considers a proper “Bitcoin winter,” the kind of cooling-off period that typically precedes major upward moves. Second, the 52-week Z-score of the BTC/gold ratio has turned positive. For the uninitiated, that’s a statistical measure comparing Bitcoin’s performance against gold over the past year. When this metric flips from negative to positive, it has historically signaled that Bitcoin is bouncing off a cyclical bottom. Bitcoin recently surged above $87,000 on an intraday basis, lending some real-time credibility to the thesis that a new leg...