Brian Armstrong, CEO of Coinbase, believes Bitcoin can still reach $400,000 by 2030, calling it a “reasonable target.” His comments come as the cryptocurrency market marks a year since the start of the current downturn, with the next Bitcoin halving roughly 18 months away.
Armstrong: The Bottom Is In
Armstrong argues that the bottom of the market has already been reached. His assessment is based on the passage of one year since the downturn began and the approaching halving event, which is expected to occur in about 18 months.
Why the Halving Matters
The Bitcoin halving is a scheduled event that reduces the reward for mining new blocks by half. Historically, it has been followed by significant price movements, though past performance does not guarantee future results. Armstrong’s outlook appears to factor in this upcoming supply reduction.
A Long-Term View
Despite the recent market decline, Armstrong’s $400,000 target for 2030 reflects a long-term perspective. He considers this level achievable, describing it as a “reasonable target” rather than an extreme prediction.
