Coinbase CEO Sees Bright Future for Bitcoin Despite Ongoing Downturn

Coinbase CEO Brian Armstrong believes Bitcoin has already hit its bottom price in this cycle. Speaking to Bloomberg and CNBC on Sept. 10, he stated that 'I personally think we've seen the bottom of the Bitcoin price in this cycle.'

Armstrong's view is that Bitcoin will trend higher over the next one to two years as the market approaches its next halving. He also predicts a target price for Bitcoin by 2030: $400,000.

However, Bitcoin still needs to clear $81,000 before it can be considered out of bear market territory. This level has historically helped distinguish durable recoveries from bear-market rallies and is currently acting as a technical barrier for the cryptocurrency.