Armstrong from Coinbase: The $60,000 level could be the "bottom" for Bitcoin
Coinbase CEO Brian Armstrong has expressed the opinion that Bitcoin has likely already reached a local bottom around $60,000. However, he emphasized that there is no 100% certainty about this — the market remains volatile, and any forecasts carry risk.
Armstrong confirmed that he maintains a long position on the first cryptocurrency. He consistently calls Bitcoin "new digital gold" and expects significant growth in its value by 2030. In his view, the key driver of long-term price increases remains the four-year halving cycle, which has historically led to bullish trends.
Currently, Bitcoin is trading near the $63,000 mark, confirming the possibility of consolidation in this range. Armstrong links the asset's prospects to institutional adoption and macroeconomic instability, which increase demand for scarce assets.
Commentary from Cryptalist analyst: The statement from the Coinbase head is not just optimism but a reflection of a fundamental shift: Bitcoin is increasingly perceived as a hedge against inflation rather than a speculative tool. However, it is worth remembering that the $60,000 "bottom" may prove temporary if regulatory pressure or macroeconomic shocks intensify sell-offs. Investors should focus on a long-term strategy rather than short-term fluctuations.