Bitcoin: Jurrien Timmer predicts it will reach $300,000 by 2029
Bitcoin has had its strongest week since January 2026, and a Fidelity executive has used the rally to make a bold crypto forecast. Jurrien Timmer, the firm’s macro director, expects Bitcoin to reach $300,000 by 2029. His prediction draws on mathematical analysis and a model with a track record. Does the BTC forecast hold up? Here’s the analysis.
Jurrien Timmer studies a bright Bitcoin in a financial lab as an orange curve climbs toward $300,000. A scale compares the leading cryptocurrency with gold.
In short
Fidelity’s Jurrien Timmer sees Bitcoin reaching $300,000 in 2029. Bitcoin’s power law model supports the forecast. Holding above $60,000 points to the start of a new cycle. The BTC-to-gold indicator turned positive after reaching a record low. A move above $82,500 could open the way to $100,000.
Why does Jurrien Timmer expect Bitcoin to reach $300,000 in 2029?
In August, Timmer said Bitcoin’s price had reached the bottom of its curve. In a September 26, 2026, post on X, he shared a target and timeline. The head of global macro at Fidelity Investments says Bitcoin is preparing for a new bull market, with a price goal of $300,000 in 2029.
Timmer’s target comes from two indicators: Bitcoin’s log-linear growth since 2010 and the 52-week Z-score of its price relative to gold.
The model assumes Bitcoin’s cycles follow a pattern rather than occur at random. Price rises along a long-term curve, with corrections back toward its underlying trend. When Bitcoin reaches that line, a major rebound has followed in the past.
The power law model also supports the bullish outlook. It maps Bitcoin’s long-term price on a logarithmic curve. When the price stays above that path, a bull cycle may begin. Bitcoin’s recent hold near $60,000 puts that level in the role of a firm price floor.
Timmer calls $60,000 a "line in the sand"
Timmer’s chart shows that Bitcoin did not fall below this level during its decline. Data from U.Today puts the recent low points between $57,742 and $60,033, bringing BTC close to the threshold. The two lows create a double bottom, or "W" pattern, that traders watch for signs of a trend change.
Bitcoin also lost more than half its value between its 2025 peak and its 2026 low. Its rebound has since narrowed the gap to the peak to 33%. Such a drop fits the model, U.Today reports. Earlier declines reached 56% and 63%. The weekly stochastic oscillator has also moved out of oversold territory. This tool tracks whether an asset may be overbought or oversold.
Some institutions now view Bitcoin and gold as similar bets against the loss of value in fiat currencies. Bitwise described this shift in a report dated September 23, 2026. The report says some institutions treat the two assets as substitutes, and some university endowments own both. Bitwise also notes that other investors reject the "digital gold" label and see crypto as a disruptive technology.
Bitcoin near $100,000? Key levels to watch
Timmer says Bitcoin must stay above $80,000 to confirm the double bottom and set up a possible move to $100,000. The pattern’s neckline is at $82,266, with resistance between $82,000 and $86,000. On September 27, 2026, BTC traded at $84,647. It also came close to $87,500 as futures traders added to already record-high bullish bets.
Strategist Killa sees signs of a new bull cycle after Bitcoin reached a weekly high. The crypto analyst says the chart shows no clear bearish signal. Killa also points out that Bitcoin has risen in six of the seven periods around the monthly open. A drop before October would point to a rebound, in Killa’s view. A rise would call for more caution.
Timmer’s forecast stands out not only for its $300,000 target, but also for the model behind it. Bitcoin’s next test is whether it can clear $86,000 in the coming weeks. That move could show whether Fidelity’s power law still fits the market or whether $300,000 remains only a projection.