Bitcoin Price Target of $400,000 by 2030 Set by Coinbase CEO Armstrong

Coinbase CEO Brian Armstrong believes Bitcoin could reach $400,000 by 2030. He made this statement when asked if he still expected Bitcoin to hit that price target by the end of the decade.

Armstrong points to the cryptocurrency's four-year market cycles, saying the latest downturn has already crossed the one-year mark. 'If you follow crypto, you know, it typically will go through these four-year-ish cycles,' he explained.

The Coinbase CEO added that Bitcoin may have already hit its bottom in this cycle. The price of Bitcoin has recovered from its July low, rising from $57,747 on July 1 to $82,262.21 on September 3, a gain of approximately 42.45%.