Bitcoin May Soar to $400,000 by 2030: Coinbase CEO Armstrong

Coinbase CEO Brian Armstrong believes that Bitcoin could reach $400,000 by 2030. He based this prediction on multiple factors, including market cycles and regulatory developments. According to Armstrong, Bitcoin's approximately four-year market cycle is likely nearing its end.

The recent downturn in Bitcoin may be over, as it has already started rising from around $60,000, said Armstrong. Typically, a strong rally in the cryptocurrency market is followed by a period of correction and then a decline that lasts about a year, he noted.

Armstrong also mentioned that regulatory developments in the US play a significant role in his price target for Bitcoin. He specifically pointed to the CLARITY Act, which aims to clarify the legal framework of the cryptocurrency market. Even if the bill fails to pass, subsequent regulatory rules could still have an impact on the market's direction.