Is Bitcoin at the bottom? Coinbase CEO calls $60,000 a critical support level
Coinbase CEO Brian Armstrong suggested that Bitcoin has likely already reached its "bottom" around $60,000. However, he emphasized that there is no absolute certainty about this — the digital asset market remains extremely volatile and unpredictable.
Armstrong confirmed that he personally maintains a long position on the first cryptocurrency, viewing it as a strategic asset. In his interpretation, Bitcoin is "new digital gold" that could significantly appreciate in the long term. He placed particular emphasis on the historical four-year halving cycle, which, in his opinion, sets a fundamental trend for price growth by 2030.
From my perspective, Armstrong's statement is not just a market forecast, but a signal for institutional investors. The $60,000 level indeed looks like a psychologically significant support zone, especially against the backdrop of the recent correction and overall market cooling. However, calling it an absolute "bottom" is premature: macroeconomic factors, such as Fed policy and geopolitical risks, could introduce their own adjustments.
As an analyst, I believe that linking to the halving cycle has solid foundations, but investors should remember: each cycle is unique, and past patterns do not guarantee repetition. Nevertheless, if Bitcoin holds above $60,000 in the coming weeks, it will become a powerful bullish signal for the entire market.