Coinbase Head: Bitcoin has found a bottom around $60,000 and is ready for a reversal — my analysis
Brian Armstrong, CEO of Coinbase, has once again reaffirmed his unwavering belief in Bitcoin as "new digital gold." Despite current market turbulence, he maintains a long position on the asset and believes we are witnessing a classic scenario familiar from previous cycles. In his view, short-term volatility does not negate the long-term bullish trend.
In a recent post on X, Armstrong directly pointed out that investor sentiment often swings to extremes, and the current situation is no exception. He published a chart titled "Bitcoin's Four-Year Cycles," which clearly illustrates the alternation of growth and decline phases since 2011, each lasting approximately two years. A question mark is placed on the chart for mid-2026, indicating a potential turning point.
Has the Bottom Been Reached or Not? My Conclusions
Armstrong's key thesis: Bitcoin has likely already reached its price bottom around $60,000. However, he refrains from making categorical statements, leaving room for maneuver. This position echoes recent discussions in the analytical community. For example, analyst Benjamin Cowen adheres to a similar four-year model but predicts a bottom no earlier than the fourth quarter of 2026.
It is worth noting that the influx of institutional capital and funds into spot ETFs has significantly accelerated the usual phases of cycles. This means the traditional model may be adjusted, and a reversal could occur faster than many conservative analysts expect. Armstrong, for his part, is consistent in his views: he has repeatedly called Bitcoin not just a tool for speculation, but a strategic asset for preserving value, important for the U.S. economy.
In his analysis, he also criticized bearish forecasts, pointing to notable growth in stablecoins and derivatives markets. According to him, the industry has long outgrown the confines of just Bitcoin, but many market participants have yet to realize this. Bitcoin's fundamental role as a basic digital infrastructure remains unchanged, and short-term price swings do not alter that.
My expert opinion: Armstrong's stance is not just optimism, but a strategic view of the macroeconomic picture. The $60,000 level indeed looks like a strong support zone, formed by the previous consolidation range. If the macroeconomic situation in the second half of 2026 does not bring surprises in the form of tighter Fed monetary policy, then the scenario of a reversal from this level has a high probability of materializing. However, I would advise not to rule out the possibility of a retest of this zone, as liquidity in derivatives markets remains high, and large players may use any news to accumulate positions.