Coinbase CEO Targets $400k Bitcoin After $81k Hurdle

Coinbase Chief Executive Brian Armstrong believes Bitcoin has already seen the bottom for this market cycle. Speaking in recent interviews, he pointed to a long term target of $400,000 by 2030, calling it a reasonable goal as the cryptocurrency approaches its next halving event in the coming years. Armstrong clarified that this view is his own personal opinion rather than an official company prediction.

Before chasing six figures, Bitcoin needs to clear a major technical hurdle near $81,000. Analysts at Galaxy Research point out that the 50 week moving average sits around $81,473. A solid weekly close above this level would confirm that the previous bear market has truly ended, matching patterns seen in most past market cycles.

Bitcoin recently showed signs of life with a strong rebound in August, fueled by heavy inflows into spot exchange traded funds and renewed market demand. However, the price has repeatedly stalled near the low $80,000 range. Traders are watching closely to see if spot demand can finally push the asset past this stubborn resistance zone.

Reaching the ambitious $400,000 target will require a much larger multi year expansion driven by tightening supply dynamics from future block reward halvings. For now, market participants remain focused on the immediate technical battle above $81,000 to determine if the recovery can turn into a lasting bull run.