Fidelity Director Projects Bitcoin to Reach $300,000 by 2029 Based on Power Law Model

Fidelity's Director of Global Macro, Jurrien Timmer, states that Bitcoin's power law model suggests a new cyclical bull market is underway after the asset maintained the $60,000 support level. The model projects a potential price target of $300,000 by 2029. Additionally, crypto strategist Killa noted that Bitcoin has entered a new bullish phase after printing a higher high on the weekly chart, though he remains cautious regarding potential price action around the monthly open based on historical patterns.