Jurrien Timmer, director of global macro at Fidelity Investments, said a Bitcoin power law model suggests a new cyclical bull market is now taking shape after BTC held the $60,000 level. Based on that model, Bitcoin’s target price could reach $300,000 in 2029. The report describes the Bitcoin power law model as a long-term valuation framework that links price to time or the scale of network adoption through a power function relationship. It uses historical price data and address growth to estimate possible future price paths and valuation ranges. At the same time, the framework is presented as a statistical extrapolation from historical patterns rather than a certain price forecast. Timmer’s comments were cited by BlockBeats on Sept. 26.
BlockBeats reported on Sept. 26 that Jurrien Timmer, director of global macro at Fidelity Investments, said a Bitcoin power law model shows a new cyclical bull market is unfolding after Bitcoin held above $60,000.
Under the model’s estimates, Bitcoin’s target price would reach $300,000 in 2029.
The report said the Bitcoin power law model is a long-term valuation framework. It holds that Bitcoin’s price has a power function relationship with time or with the scale of network adoption. By fitting historical price data and address growth, the model projects possible future price paths and valuation ranges. It is still a statistical extrapolation based on historical patterns, not a deterministic price forecast.
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