Bitcoin has found a bottom around $60,000: Coinbase CEO predicts a reversal
Coinbase CEO Brian Armstrong has once again reaffirmed his unwavering faith in Bitcoin, calling it the "new digital gold." According to him, he maintains a long position on the asset despite the current market turbulence.
In his recent address, Armstrong spoke directly about the recent volatility, noting that investor sentiment, as usual, swings from one extreme to another. He emphasized that the current situation is a repeat of a scenario well known from past cycles. In his view, short-term fluctuations do not change the long-term expectations for Bitcoin's dynamics.
Four-Year Cycle and Local Bottom
Armstrong attached a chart titled "Bitcoin's Four-Year Cycles" to his post. It clearly shows alternating phases of growth and decline since 2011, each lasting approximately two years. A question mark is placed in mid-2026 on the chart. Armstrong believes the current situation fits the scenario familiar to investors and does not contradict the logic of long-term market movement. He suggested that Bitcoin may have already found its price bottom but refrained from drawing final conclusions.
This year, debates around the four-year cycle analysis have intensified. Analyst Benjamin Cowen, for example, believes the pattern is still working and expects a likely bottom no earlier than the fourth quarter of 2026. Other experts note that institutional capital and inflows into spot ETFs have significantly accelerated the usual phases of growth and decline, altering the traditional cyclicality.
Armstrong has previously held this view on Bitcoin cycles. He has already explained why Bitcoin is important for the U.S. economy, calling the asset not just a trading tool but also a means of preserving value.
Looking to 2030 and Fundamental Role
Armstrong also criticized bearish forecasts for Bitcoin's current price. According to him, stablecoins, prediction markets, and derivative instruments have grown noticeably in recent months, although BTC itself remains under pressure. In his opinion, the industry has long outgrown the confines of a single Bitcoin, but many market participants have yet to see this.
At the same time, he emphasized Bitcoin's fundamental role. Armstrong believes the current drawdown is just one of many cycles, and the asset's significance remains unchanged. This aligns with his long-standing predictions: sooner or later, Bitcoin will be worth millions of dollars.
Armstrong's optimism extends beyond price. He is confident that by 2030, 10% of the global economy will operate on cryptocurrencies. The forecast is based on a simple idea: Bitcoin remains the basic digital infrastructure, and short-term price swings do not change that.
"I am, as always, optimistic — I think the price will be significantly higher by 2030, and I still believe in Bitcoin," the businessman emphasized.
Whether the level Armstrong indicated will hold will become clear as the macroeconomic situation develops in the second half of 2026. His post has generated notable resonance, indicating close attention from market participants to the opinions of key industry figures.
Cryptalist Analytical Commentary: Armstrong's statement is not just emotional support but a clear signal for institutional investors. He correctly notes that the infrastructure around BTC (ETFs, stablecoins, derivatives) has become much more mature than in previous cycles. However, I would add that this very "maturity" could smooth out both the depth of the decline and the height of the subsequent growth. A bottom at $60,000 is a realistic scenario, but for confirmation, the market needs to consolidate above this level amid macroeconomic uncertainty.