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"The short answer is yes. I do think that that's a reasonable target by 2030," Armstrong told CNBC when asked whether he still expects Bitcoin to reach $400,000 by the end of the decade. For live updates on US Markets, click here Bitcoin was trading just below $80,000 when Armstrong made the remarks. He pointed to the cryptocurrency's four-year market cycles, saying the latest downturn had already crossed the one-year mark. "If you follow crypto, you know, it typically will go through these four-year-ish cycles. There'll be a run-up, some euphoria, there'll be a down period. Most of the down periods last about a year," Armstrong said. "And we've actually just come across the one-year mark for this down period. And so I personally believe that the bottom is in on Bitcoin in this most recent cycle," he added. Bitcoin has recovered from its July low in recent months. According to CoinMarketCap data, Bitcoin rose from $57,747 on July 1 to $82,262.21 on September 3, a gain of approximately 42.45%. ALSO READ: Citi launches eFPI to cut foreign investor registration time in India to 5 days The recovery came after a period of weakness, although Bitcoin remains below its previous all-time high. Bitcoin scaled a peak of $126,198.07 on October 7, 2025, according to CoinMarketCap data. The cryptocurrency remains about 38.74% below that level. At last check, Bitcoin was trading at $77,281.11, down 1.67%, according to CoinMarketCap data. It had fluctuated between $76,670.90 and $78,904.88 over the previous 24 hours. Bitcoin's market capitalisation stood at approximately $1.55 trillion. Armstrong said the market would also be watching regulatory developments, including the Clarity Act and subsequent rulemaking if the legislation fails. "We've already seen it come up from 60K or so. And a lot of people will be watching this clarity act. And if it fails, you know, the subsequent rulemaking that comes out after that," he said. The Coinbase CEO also pointed to the next Bitcoin halving as another event to watch. "And then there's another Bitcoin halving event that's, I don't know, about a year and a half out. And we tend to see run-ups in advance of that," Armstrong said. "So I think the next year or two is going to be good for Bitcoin and we'll see what," he added. Bitcoin's recent recovery has also come ahead of October, a month that has attracted speculation among crypto market participants around the so-called "Uptober" trend. This article has been written by Kumar Gaurav, who is not a SEBI-registered Research Analyst or an Investment Adviser. Gaurav and his/her 'relative(s)' (as defined under Section 2(77) of the Companies Act, 2013) do not hold any financial interest in the companies mentioned in this article as of the date of publication. The views/recommendations mentioned in this article, wherever applicable, are those of the respective SEBI-registered Research Analyst/brokerage and have been reproduced/reported with due attribution. They should not be construed as the views or recommendations of The Economic Times Digital or the journalist. Readers are advised to consider the original research report and make their investment decisions based on their own assessment. (What's moving Sensex and Nifty Track latest market news, stock tips, Budget 2025, Share Market on Budget 2025 and expert advice, on ETMarkets. Also, ETMarkets.com is now on Telegram. For fastest news alerts on financial markets, investment strategies and stocks alerts, subscribe to our Telegram feeds .) Subscribe to ET Prime and read the Economic Times ePaper Online.and Sensex Today. Top Trending Stocks: SBI Share Price, Axis Bank Share Price, HDFC Bank Share Price, Infosys Share Price, Wipro Share Price, NTPC Share Price (What's moving Sensex and Nifty Track latest market news, stock tips, Budget 2025, Share Market on Budget 2025 and expert advice, on ETMarkets. Also, ETMarkets.com is now on Telegram. For fastest news alerts on financial markets, investment strategies and stocks alerts, subscribe to our Telegram feeds .) Subscribe to ET Prime and read the Economic Times ePaper Online.and Sensex Today. Top Trending Stocks: SBI Share Price, Axis Bank Share Price, HDFC Bank Share Price, Infosys Share Price, Wipro Share Price, NTPC Share Price
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