Fidelity Executive: Power Law Model Suggests Bitcoin May Have Started a New Bull Market, Potentially Rising to $300,000 by 2029

BlockBeats news, September 26 - Jurrien Timmer, Global Macro Director at Fidelity Investments, stated in a post that the Bitcoin power-law model indicates a new cyclical bull market is unfolding after Bitcoin holds $60,000. According to the model's projection, Bitcoin's target price is expected to reach $300,000 by 2029.

The Bitcoin power-law model is a long-term valuation framework that posits a power function relationship between Bitcoin's price and time or network adoption scale. By fitting historical price data, address growth, and other metrics, the model extrapolates potential future price trajectories and valuation ranges. However, it is a statistical extrapolation based on historical patterns, not a deterministic price prediction.