Fidelity’s Jurrien Timmer says Bitcoin has entered a new cyclical bull market after holding the $60K level that he considers a key long-term support.
His power law model now points toward $300,000 by 2029.
The call is notable because Timmer was much more cautious earlier this year when BTC was approaching the lower end of his model.
Now, he sees the market structure changing.
Of course, $300K is a model-based target, not a guaranteed outcome. Bitcoin still has to prove that the recovery can develop into a sustained uptrend.
$60K held. Timmer says the next cycle may already be underway.
#BTC Price Analysis# #BTC Above 60K# $BTC $ZEC
His power law model now points toward $300,000 by 2029.
The call is notable because Timmer was much more cautious earlier this year when BTC was approaching the lower end of his model.
Now, he sees the market structure changing.
Of course, $300K is a model-based target, not a guaranteed outcome. Bitcoin still has to prove that the recovery can develop into a sustained uptrend.
$60K held. Timmer says the next cycle may already be underway.
#BTC Price Analysis# #BTC Above 60K# $BTC $ZEC
