Coinbase CEO pointed to Bitcoin's bottom around $60,000 and confirmed the bullish scenario
Coinbase CEO Brian Armstrong has reaffirmed his long-term belief in Bitcoin, calling it "new digital gold." In a post on platform X, he stated that he maintains a long position on the asset despite recent market turbulence. In his view, the current situation is a repeat of a scenario familiar to everyone from past cycles: short-term fluctuations do not change long-term expectations.
Armstrong published a chart titled "Bitcoin's Four-Year Cycles," which marks alternating phases of growth and decline starting from 2011, each lasting approximately two years. He placed a question mark in mid-2026. From his perspective, the current drawdown fits into the logic familiar to investors and does not contradict the long-term market movement.
Four-Year Cycle Analysis and Market Position
Armstrong suggested that Bitcoin may have already found its price bottom but refrained from making definitive conclusions. Debates around the four-year cycle 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. Other experts note that institutional capital and inflows into spot ETFs have significantly accelerated the usual phases of growth and decline.
Armstrong himself has held this view for a long time. He has previously 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 to 2030 and Price Forecast
In his post, the Coinbase head also criticized bearish forecasts for Bitcoin's current price. He pointed out that stablecoins, prediction markets, and derivative instruments have grown noticeably in recent months, even though BTC itself remains under pressure. In his opinion, the industry has long outgrown the framework of just one Bitcoin, but many market participants do not yet see this.
Armstrong emphasized Bitcoin's fundamental role: the current drawdown 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. He is also 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.
My comment: Armstrong's statement is a powerful signal for the market, especially amid current uncertainty. However, investors should remember that even within a four-year cycle, deep corrections are possible. The key question is whether Bitcoin can hold the $60,000 level as support, or whether another downward turn awaits us. For now, fundamental indicators, such as the growth of stablecoins and institutional interest, point to a potential bottom, but the final verdict will be delivered by the macroeconomic situation in the second half of 2026.