Coinbase CEO: Bitcoin has found a bottom near $60,000 and is ready for a reversal — my analysis
Brian Armstrong, the head of the largest American crypto exchange Coinbase, has once again stated his unwavering belief in bitcoin as "new digital gold." He confirmed that he maintains a long position on the asset, despite the current market turbulence.
In a recent post, Armstrong drew parallels with past market cycles, noting that the current situation is a classic scenario we have already observed. Short-term fluctuations, in his opinion, do not negate the long-term bullish trend. He directly stated that bitcoin has likely already reached its price bottom around $60,000 and is now ready for a reversal.
Four-Year Cycles and Bottom Analysis
Armstrong attached to his message a chart titled "Bitcoin's Four-Year Cycles," which marks alternating phases of growth and decline since 2011. Each cycle lasts approximately two years. A question mark is placed on the chart for mid-2026, indicating a potential turning point. From the perspective of the Coinbase CEO, the current drawdown fits perfectly into this historical logic.
Interestingly, this position echoes the opinion of analyst Benjamin Cowen, who also believes that the pattern of four-year cycles continues to work. Cowen expects a likely bottom no earlier than the fourth quarter of 2026. However, in my view, institutional capital and the inflow of funds into spot ETFs have significantly accelerated the usual phases, which could shift the time frame.
Fundamental Role and Forecast for 2030
Armstrong also criticized bearish forecasts, pointing to the notable growth of stablecoins and derivatives markets. He emphasized that the industry has long outgrown the framework of just bitcoin, although many market participants have not yet realized this. In his opinion, the current drawdown is just one of many cycles, and the asset's significance as a basic digital infrastructure remains unchanged.
He reiterated his long-standing forecast: sooner or later, bitcoin will be worth millions of dollars. Armstrong is confident that by 2030, 10% of the global economy will operate on cryptocurrencies. "I am, as always, optimistic — I think the price will be significantly higher by 2030, and I still believe in bitcoin," the businessman summarized.
My expert opinion: Armstrong's statement is a powerful psychological signal for the market, but it should be perceived as a long-term benchmark, not a call for immediate action. The $60,000 level indeed looks like a strong support zone, but the sustainability of this bottom will be tested by the macroeconomic situation in the second half of 2026. For now, fundamental growth drivers, such as institutional adoption, remain in force.