Fidelity Investments Director of Global Macro Jurrien Timmer projected in late September 2026 that Bitcoin could reach an initial target of $100,000 and eventually $300,000 by 2029.
His forecast follows the formation of a key double bottom pattern near $60,000, according to the analysis.
The cryptocurrency traded near $84,000 as October began, consolidating after peaking at $87,500 on September 27.
Market data from CoinGecko shows Bitcoin gained 0.6% over a seven-day period, putting the asset down just 3.8% year-to-date while remaining approximately 33% below its record high of $126,080 set in October 2025.
Timmer's technical model evaluates a power law trend alongside Bitcoin's relative value against gold.
A key double bottom pattern formed with lows of $57,742 in late June and $60,033 subsequently.
To complete the pattern and push toward $100,000, Bitcoin must maintain support above $80,000 and clear key resistance at $86,000.
Meanwhile, prediction market data from Kalshi shows traders pricing a 72% chance of Bitcoin reaching $87,500 during October, with a 56% probability of surpassing $90,000.
Odds of hitting $100,000 before the end of the year stood at 37%.
Institutional Shift and the Four-Year Cycle
ARK Invest Director of Digital Asset Research Lorenzo Valente highlighted that structural shifts, including real-world asset tokenization and regulatory developments, continue to mature the broader cryptocurrency ecosystem alongside the market's traditional four-year cycle.
InvestaX data shows tokenized real-world assets expanded to $38 billion in the third quarter of 2026, up from $20.6 billion a year prior.
Furthermore, CoinGecko reported that the real-world asset sector more than tripled to $19.3 billion by the first quarter of 2026, boosted by gold-backed tokenization.
Valente addressed the upcoming cyclical inflection point during an interview with FXStreet at the European Blockchain Conference in Barcelona.
"I think November will see the four-year cycle, and it seems to be a self-fulfilling prophecy," Valente said, adding, "many people may be preparing for that.
Therefore, I don't want to downplay it."
He noted that structural market maturing and expanded regulatory frameworks, including Europe's Markets in Crypto Assets regulation, are transforming the industry landscape.
"You need institutions, don't you?
You need these players, so I think the industry has changed a lot," Valente said, adding, "for us [Ark Invest], it is clear that the infrastructure has become more mature.
There's more regulation."
Addressing the underlying technology driving blockchain expansion, Valente emphasized the future focus on real-world adoption.
"Cryptocurrencies in general are a network infrastructure and technology, so if they are useful, we think they will be used much more widely than just tokens, right?
This will continue, but I think the main growth in the future definitely lies in RWA and tokenization in general," Valente explained.
Looking ahead to future drivers of market capital and institutional product development, Valente outlined key growth areas following recent market drawdowns.
"If you were to ask me where the next big offering, product, or cash flow would come from, it would be RWA, tokenization, and safe deposit boxes [vaults]," Valente said.
