Bitcoin Could Hit $400K, Coinbase CEO Says as Iran War Threatens Rally

Key Takeaways

• Coinbase CEO Brian Armstrong believes Bitcoin has bottomed and considers $400,000 a reasonable target by 2030.

• It comes as Bitcoin is nearing a "golden cross."

• Bitcoin could fall toward $70,000 if oil remains above $100, according to MEXC CEO Vugar Usi Zade.

Coinbase CEO Brian Armstrong believes Bitcoin could reach $400,000 by 2030 and has declared its latest market bottom, even as the escalating war in Iran threatens to disrupt its recovery.

In a CNBC interview, Armstrong predicted that the next year or two would be positive for BTC, supported by regulatory developments and anticipation surrounding the next halving.

However, some warn rising oil prices could fuel another inflation shock and send Bitcoin back toward $70,000 before Armstrong's longer-term target comes into view.

Iran Conflict Sends Oil Above $108

Brent crude jumped 7.5% on Thursday to $108.83 per barrel, while West Texas Intermediate rose to $102.48 as the conflict involving Iran placed renewed pressure on global energy supplies.

The market is particularly sensitive to developments around the Strait of Hormuz and other regional shipping corridors.

Any prolonged disruption could keep oil above $100 and feed through to transport, manufacturing and consumer prices.