Coinbase CEO Sees Bitcoin Bottom at $57,718, Targets $400,000 by 2030
Coinbase CEO Brian Armstrong believes that Bitcoin's cycle bottom occurred on July 1 at $57,718. This date marks the lowest intraday price for the current cycle, but not the closing price, which was higher.
Armstrong pointed out that previous Bitcoin downturns have typically lasted around 12 months, and since this timeframe is now behind us, he sees a potential target of $400,000 for Bitcoin by 2030.
The CEO's argument also relies on the upcoming halving in April 2028, which historically leads to price increases due to reduced supply and persistent demand. This calendar-based factor adds strength to his optimistic outlook for the next two years.
Since Armstrong made his prediction, Bitcoin has moved in his favor, trading at $84,403, up 8.4% over the week and 46% higher than the July low. The recent influx of funds into U.S. spot Bitcoin funds provides support to his bottom call.