Coinbase CEO says Bitcoin bottom is in and targets $400,000 by 2030
Armstrong says Bitcoin bottom reached
Coinbase chief executive Brian Armstrong told Bloomberg and CNBC on September 10 that he believes the lowest point of Bitcoin’s current price cycle has already occurred. He also said a personal price target of $400,000 by 2030 is reasonable.
Key points
- Bitcoin is trading around $77,000, about 39% below its October 2025 record of $126,198.
- Armstrong expects a higher trend over the next one to two years as the next halving approaches (around 2028).
- The 50‑week moving average, about $81,500, is a critical technical level; a weekly close above it would support a market‑bottom view.
- Bitcoin rose 25.4% in August, reaching $78,852, and U.S. spot Bitcoin ETFs saw $3.4 billion of inflows.
Armstrong's interview
In the interviews, Armstrong framed his view as personal, not a Coinbase forecast. He said, “I personally think we’ve seen the bottom of the Bitcoin price in this cycle,” and added that a $400,000 price by 2030 is a “reasonable target.”
Technical analysis
Galaxy Research reported the 50‑week moving average at $81,473 on September 2. Historically, a weekly close above this average has signaled the end of a bear market in four of Bitcoin’s five past downturns. The low‑$80,000 range is seen as a hurdle; breaking it would be a clear technical confirmation.
Recent price move
Bitcoin climbed from $62,899 at the start of August to $78,852 by the month’s end, a 25.4% increase. The week ending August 23 saw a 23.5% jump, the largest weekly dollar gain on record. Analysts linked the rally to renewed demand for the debasement trade, policy developments, short liquidations, and momentum buying. Spot Bitcoin exchange‑traded funds (ETFs) attracted $3.4 billion in August, the strongest inflow since July 2025.
What is confirmed
- Armstrong’s statements were made in September 10 interviews with Bloomberg and CNBC.
- Bitcoin’s price is about $77,000, roughly 39% below its October 2025 high.
- Galaxy Research’s 50‑week moving average is $81,473 as of September 2.
- Bitcoin rose 25.4% in August and reached $78,852.
- U.S. spot Bitcoin ETFs recorded $3.4 billion of inflows in August.
What remains uncertain
- Whether Bitcoin will close a week above the 50‑week moving average and sustain the breakout.
- How long the current upward momentum will last without short covering or short buying.
- Whether the $400,000 target will be realistic given the need for a multi‑fold price increase.
Why it matters
The bottom view aligns with historical patterns where the first upside break of the 50‑week average often follows the cycle low. If Bitcoin can stay above $80,000, it would suggest the current bear market is ending and set the stage for a longer‑term recovery, potentially influenced by the upcoming halving that reduces new supply.
What could happen next
Analysts will watch the weekly price close around the $80,000‑$81,500 zone. A decisive close above the 50‑week average would support Armstrong’s bottom call and hint at a new cycle. Continued rejection would keep Bitcoin in a consolidation phase, delaying clearer signals.
