Bitcoin's Bottom May Be in as Armstrong Sees Path to $400,000
Bitcoin's price has been hovering around $77,000, about 39% below its record high of $126,198 in October 2025. Despite this, Coinbase CEO Brian Armstrong believes that Bitcoin has already reached its bottom and will trend higher over the next one to two years.
Armstrong points out that a weekly close above $81,000, the current 50-week moving average, would strengthen the argument that Bitcoin's bear market had ended. This is based on historical data showing that in four of five completed bear markets, the first upside break of the 50-week average came after the cycle low had already been established.
The $81,000 level has proven to be a significant hurdle for Bitcoin, with it repeatedly struggling to surpass this mark. However, Armstrong remains optimistic, predicting that Bitcoin will reach $400,000 by 2030, which would put the cryptocurrency more than three times above its October 2025 record.
The next halving event, expected around 2028, is seen as a key factor in driving up the price of Bitcoin. This event will reduce the block subsidy paid to miners, tightening the rate at which new Bitcoin enters circulation and increasing demand for existing coins.