Jurrien Timmer, Fidelity’s Director of Global Macro, forecasts Bitcoin reaching $300,000 by 2029, representing roughly a 3.5x increase from current levels near $84,000. His analysis rests on two pillars: Bitcoin holding above $60,000 for nearly a year, which he considers a proper Bitcoin winter, and the 52-week Z-score of the BTC/gold ratio turning positive, a technical indicator that has historically signaled cyclical bottoms. This target stems from a power-law model that Timmer has been refining for years, based on Bitcoin’s adoption-driven growth and accounting for diminishing percentage returns as the asset matures. Bitcoin recently surged above $87,000 on an intraday basis, lending early real-time validation to this bullish thesis.
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