Coinbase's Armstrong: $60,000 is a likely "bottom" for Bitcoin, but no guarantees
Coinbase CEO Brian Armstrong has suggested that Bitcoin has likely already reached a local bottom around $60,000. In his recent analysis, he emphasized that while there can be no complete certainty in this scenario, current market signals indicate the formation of a support zone precisely at these levels.
Armstrong confirmed that he maintains a long position in the flagship cryptocurrency, viewing it as "new digital gold." According to his estimates, by 2030 Bitcoin should show significantly higher price values, which is directly linked to the historical four-year halving cycle. This mechanism, in the opinion of the Coinbase head, will continue to exert structural pressure on the asset's supply, gradually pushing its value upward.
It is important to note that Armstrong's statement came amid overall market volatility, where many investors are looking for entry points. However, his position is more of a strategic view on the long-term trend rather than a short-term trading signal.
My Analysis
From a fundamental perspective, the $60,000 level does indeed look attractive for accumulation, especially considering the upcoming halving. However, I would advise not to perceive this as an absolute "bottom" — in cryptocurrencies, local lows are often retested, and the psychological mark of $60,000 could be broken downward amid a sharp deterioration in the macroeconomic environment. Nevertheless, Armstrong's long-term logic remains flawless: Bitcoin as digital gold only becomes scarcer with each cycle.