Jurrien Timmer, director of global macro at Fidelity Investments, has restated his view that Bitcoin could climb to $300,000 by 2029. His latest technical assessment links the cryptocurrency’s recent price action to a longer-term mathematical framework that has guided previous cycles.

Technical Recovery After 2025 Peak

Bitcoin reached an all-time high of $126,251 in 2025 before undergoing a sharp correction that erased more than half of its value. Timmer describes the subsequent formation of a double-bottom pattern between $57,742 and $60,033 as evidence that the market successfully defended a critical support zone. He calls the $60,000 level a “line in the sand,” noting that the ability to hold above it signals easing selling pressure and the end of the local bearish phase.

Weekly stochastic indicators, including Fast %D and Slow %D, have moved out of oversold territory, adding to signs that bullish momentum may be rebuilding. Institutional attention has centered on the weekly chart’s reversal pattern.

Power Law Model and Long-Term Projection

Timmer’s forecast rests on the Power Law model, which applies logarithmic linear progression and a 52-week Z-score that relates Bitcoin’s price to gold. The framework treats Bitcoin’s cycles as regular and mathematically grounded rather than driven by short-term sentiment. Earlier drawdowns of 56 percent and 63 percent remained consistent with the model’s parameters.

According to the analysis, sustained support at $60,000 would align with the start of a new cyclical advance. The model projects a price near $300,000 by 2029 if the long-term trajectory continues.

Near-Term Levels to Watch

The neckline of the double-bottom formation currently sits near $82,266, within a broader resistance band of $82,000 to $86,000. A confirmed break above $82,500 is viewed as the technical trigger that could propel Bitcoin toward the psychological $100,000 mark and mark the conclusion of the present capital-accumulation phase.

Volatility and Portfolio Context

Fidelity continues to stress that Bitcoin remains a highly volatile asset. Timmer and his team note that past performance does not guarantee future results and advise maintaining strict diversification. He has also described Bitcoin, alongside the Bloomberg Commodity Spot Index, as useful tools for portfolio diversification.

The assessment presents the Power Law framework as a disciplined structure that measures cycles through data rather than isolated market reactions.