[Fidelity Executive: Power-Law Model Indicates Bitcoin May Have Entered a New Bull Market, Could Reach $300,000 by 2029] BlockBeats News, September 26: Jurrien Timmer, Global Macro Director at Fidelity Investments, stated in a post that the power-law model for Bitcoin suggests a new cyclical bull market is unfolding after Bitcoin held the $60,000 level. According to the model's projections, Bitcoin's target price could reach $300,000 by 2029. The Bitcoin power-law model is a long-term valuation framework that posits a power-law relationship between Bitcoin's price and time or the scale of network adoption. The model estimates potential future price trajectories and valuation ranges by fitting historical data such as price and address growth. However, it is a statistical extrapolation based on historical patterns and not a definitive price prediction. [Original Link]