A prominent analyst at Fidelity, Jurrien Timmer, has outlined a long-term bullish scenario in which Bitcoin could climb to $300,000 by 2029, a move that would represent a potential upside of about 266% from current trading levels.
The forecast is not unconditional. Timmer stressed that Bitcoin must build stronger momentum above the $86,000 resistance zone. Until that level is decisively cleared, the recovery path remains uncertain and the bullish target stays more of a longer-term possibility than an active trend.
One of the main risks cited is weak demand for spot Bitcoin exchange-traded funds. According to the analysis, subdued ETF inflows could undermine the momentum needed to clear $86,000 and threaten the broader bullish recovery scenario. The note highlights that institutional flows through ETFs remain a key variable for Bitcoin's next major leg higher.
The $300,000 target reflects a high-conviction, multi-year outlook from Fidelity's research team, but it also depends on Bitcoin regaining technical strength and sustained investor appetite.
