Bitcoin may be entering a new bull market, according to Fidelity's Jurrien Timmer.
He says $BTC held the $60,000 support zone for almost a year, roughly matching the length of a typical Bitcoin winter.
With Bitcoin now breaking higher, Timmer says a new four-year cycle could be underway. He also pointed to the BTC/gold Z-score turning positive after spending an extended period below zero.
Timmer's longer-term model also puts a potential path toward $300,000 by 2029, based on a slower projected growth rate of around 60 to 65% annually.
That figure comes from his power-law framework and is a model-based scenario, not a guaranteed price target.
#BTC, is the correction enough?# #Bitcoin Price Prediction: What is Bitcoins next move?#
He says $BTC held the $60,000 support zone for almost a year, roughly matching the length of a typical Bitcoin winter.
With Bitcoin now breaking higher, Timmer says a new four-year cycle could be underway. He also pointed to the BTC/gold Z-score turning positive after spending an extended period below zero.
Timmer's longer-term model also puts a potential path toward $300,000 by 2029, based on a slower projected growth rate of around 60 to 65% annually.
That figure comes from his power-law framework and is a model-based scenario, not a guaranteed price target.
#BTC, is the correction enough?# #Bitcoin Price Prediction: What is Bitcoins next move?#
