Coinbase CEO: Bitcoin found a bottom at $60,000 and is ready for a reversal — my analysis of the situation
Brian Armstrong, CEO of Coinbase, has once again reaffirmed his long-term belief in Bitcoin, calling it "new digital gold." According to him, he maintains a long position on the asset despite the current market turbulence.
In a post on platform X, Armstrong directly addressed the recent volatility, noting that investor sentiment traditionally swings from one extreme to another. In his view, the current scenario is repeating a pattern well known from past cycles. Short-term fluctuations, he added, do not change expectations for Bitcoin's long-term trajectory.
Four-Year Cycles 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 at mid-2026. The Coinbase head believes the current situation fits a familiar scenario for investors and does not contradict the logic of long-term market movement.
He suggested that Bitcoin may have already found its price bottom near the $60,000 mark, but refrained from drawing definitive conclusions. The debate around the four-year cycle analysis has intensified this year. 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, blurring the classic cyclicality.
Armstrong himself 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 only a trading tool but also a store of value.
Outlook and 2030 Forecast
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. The industry, in his opinion, has long outgrown the confines of just Bitcoin, but many market participants have not yet seen this.
At the same time, he emphasized Bitcoin's fundamental role. The current drawdown, Armstrong believes, is just one of many cycles, and the asset's significance remains unchanged. This aligns with his long-standing forecasts: sooner or later, Bitcoin will be worth millions of dollars.
"I remain optimistic as always—I think the price will be significantly higher by 2030, and I still believe in Bitcoin," the businessman emphasized.
My analysis and conclusions: Armstrong's statement is a classic signal from an industry leader who sees long-term value rather than daily charts. However, I would not rush to blindly copy his optimism. The market is currently in a phase of uncertainty: macroeconomic factors and regulation could prolong the correction longer than bulls expect. The key level of $60,000 is not just a bottom, but a zone where the fate of the nearest bullish move will be decided. If buyers hold this level, a reversal is indeed possible. If not, expect a test of deeper levels. In any case, the four-year cycle remains a reliable guide, but with adjustments for institutional inflows. Keep an eye on the macroeconomic situation in the second half of 2026—that's when it will become clear whether the Coinbase head is right.