Brian Armstrong: Bitcoin has reached a local bottom at $60,000 and is ready for a reversal
Coinbase CEO Brian Armstrong has reaffirmed his long-term faith in Bitcoin, calling it "new digital gold." According to him, he maintains a long position on the asset despite current market turbulence.
In a recent post on X, Armstrong directly addressed volatility, noting that investor sentiment often swings to extremes. In his view, a scenario familiar from past cycles is now repeating itself. Short-term fluctuations, he added, do not change expectations for Bitcoin's long-term dynamics.
Four-Year Cycle and Turning Point
Armstrong attached a chart titled "Bitcoin's Four-Year Cycles" to his post. It shows alternating phases of growth and decline since 2011, each lasting roughly two years. A question mark is placed at mid-2026. According to the Coinbase CEO, the current situation fits a 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 around $60,000, but refrained from drawing final conclusions. Debates around the four-year cycle analysis have intensified this year. Analyst Benjamin Cowen believes the pattern is still working and expects a likely bottom no earlier than the fourth quarter of 2026. Others note that institutional capital and inflows into spot ETFs have significantly accelerated the usual phases of growth and decline.
Armstrong has held this view on Bitcoin cycles before. 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.
Bitcoin Outlook and 2030 Forecast
Armstrong also criticized bearish forecasts for Bitcoin's current price. According to him, stablecoins, prediction markets, and derivatives have grown noticeably in recent months, although BTC itself remains under pressure. The industry, in his opinion, has long outgrown the framework of a single Bitcoin, but many market participants have not yet noticed 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.
Armstrong's optimism is not limited to 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'm as optimistic as ever—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 significant resonance. This indicates close attention from market participants to the opinions of key industry figures.
Cryptalist Analysis: Armstrong's statement is not just hype. He is one of the few top executives who has consistently adhered to Bitcoin's cyclical theory since 2011. His indication of $60,000 as a local bottom looks justified, given historical patterns. However, investors should remember: the four-year cycle could be distorted due to institutional inflows. If the macroeconomic backdrop worsens, we may see a retest of this level. But in the long term—I agree with him: Bitcoin remains the best digital asset for storing value.