Coinbase CEO Maintains $400,000 Bitcoin Target Amid 5.4% Weekly Decline

Coinbase chief executive Brian Armstrong said he still expects Bitcoin (BTC) to hit $400,000 by 2030. The price target now requires a roughly 420% rise from the current level of about $76,930.

Recent Price Action

Bitcoin has slipped 5.4% over the past seven days and remains about 39% below its October 2025 record of over $126,000.

Armstrong’s Market Outlook

In a CNBC interview, Armstrong described Bitcoin’s four‑year cycles of rally, euphoria and decline. He noted that most down periods last about a year and that the current downturn has just passed that one‑year mark, suggesting the bottom may be near.

He highlighted two upcoming events that could influence the market:

• The CLARITY Act, scheduled for a procedural Senate vote on September 15.
• The next Bitcoin halving, expected in 18‑19 months, which he believes will trigger a typical pre‑halving run‑up.

Analyst Perspective

Analyst Jesse Myers pointed to historical post‑halving performance: roughly 100× after the 2012 halving, 30× after 2016, and 8× after 2020. He warned that front‑running activity began in 2024, but if past patterns repeat, the next 1.6 years could be highly volatile, potentially pushing Bitcoin to $464,000 by late 2029.

Market Participation

Spot market activity shows a neutral 90‑day cumulative volume delta, with futures traders currently driving price movements. Institutional demand appears mixed: U.S. spot Bitcoin ETFs recorded $986.9 million of inflows for the week ending September 4, extending a three‑week inflow streak totaling about $3.8 billion, but the following week saw $166.9 million of outflows.