Bitcoin is trading near $111,600, under pressure after a 1.38% decline in the past 24 hours. Despite the short-term weakness, Coinbase CEO Brian Armstrong believes Bitcoin (BTC) could reach $1 million by 2030.
In a post on X, he cited three main drivers: regulatory clarity, government adoption, and a wave of institutional investment still waiting on the sidelines.
Armstrong highlighted progress in Washington, where lawmakers are debating new legislation such as the GENIUS Act for stablecoins.
These bills could finally clarify whether digital assets fall under the jurisdiction of the SEC or the CFTC, resolving one of cryptocurrency’s longest-standing uncertainties. He also floated the possibility of the U.S. creating a strategic Bitcoin reserve, a move he says would encourage other nations to follow suit and trigger sovereign-level demand.
On the institutional front, Armstrong noted that Coinbase already provides custody for about 80% of Bitcoin ETFs. With supply capped at 21 million coins, and much of the capital flow yet to enter, he argues the long-term trajectory remains firmly higher.
Fed Policy and Geopolitical Pressures
While the prospect of a $1 million Bitcoin stirs optimism, near-term sentiment is dominated by macroeconomic risks. The Federal Reserve’s cautious stance has lifted the U.S. dollar and weighed on risk assets.
After last week’s modest rate cut, Chair Jerome Powell warned against easing too quickly, balancing inflation risks with signs of a weaker labor market. Global tensions have also intensified investor caution.
Ongoing conflicts in Ukraine and Gaza have prompted traders to seek safe-haven assets, leaving Bitcoin struggling to attract new inflows. The result is a market where long-term enthusiasm clashes with immediate risk aversion.
Bitcoin (BTC/USD) Technical Outlook and Price Levels
Bitcoin price prediction remains bearish amid descending channel as BTC is failing to hold its September rally. Both the 50- and 100-period moving averages have crossed in bearish alignment near $114,000, underscoring short-term weakness.
Support is now being tested at $110,858, with additional downside risk toward $109,469 and $107,633 if sellers remain in control.
However, the Relative Strength Index has slipped to 36, edging closer to oversold territory. A bullish engulfing candle or Doji near $111,000 could mark exhaustion among sellers and spark a rebound. If BTC pierces the channel’s upper boundary around $112,600, momentum could quickly shift toward $114,000 and $115,185.
For market participents, a tactical setup emerges: accumulate around $111,000 with tight stops beneath $107,600, targeting a rally toward $115,000–$116,000.
While short-term volatility is likely, Armstrong’s bold forecast and the broader adoption trend suggest Bitcoin’s story is far from finished. The structural demand he envisions may not just lift prices—it could redefine Bitcoin’s place in global finance.
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The post Bitcoin Price Prediction: Coinbase CEO Says $1M BTC Is Coming – And The Money Flood Hasn’t Even Started Yet appeared first on Cryptonews.
