Bitcoin's power law framework is signaling the start of a new cyclical bull market after the cryptocurrency successfully held the $60,000 price level. According to Fidelity’s Director of Global Macro, Jurrien Timmer, the mathematical model continues to indicate long-term growth ahead for the digital asset.
The analysis projects a price target of $300,000 by the year 2029 based on the power law framework. Timmer noted on social media that Bitcoin's power law math suggests a new cyclical bull market is underway after the asset maintained the $60,000 threshold.
Bitcoin’s power law is a long-term mathematical model suggesting that the cryptocurrency’s price follows a power-law relationship with time, differing from simple linear or exponential growth paths.
In addition to traditional market analysis, crypto strategist Killa informed followers on the social media platform X that Bitcoin has entered a new bullish regime after printing a higher high on the weekly chart, noting that positioning has fully reset.
Looking toward historical patterns, the strategist emphasized that the upcoming monthly open pivot will be crucial for determining price action in October. According to the analysis, Bitcoin has historically seen upward movement around the monthly open when price action heading into it was bearish, prompting a cautious approach if the asset pumps prior to the transition.
