Bitcoin has found a bottom near the $60,000 mark — statement by Coinbase CEO
Coinbase CEO Brian Armstrong has reaffirmed his long-term commitment to Bitcoin, calling it "new digital gold." According to him, he maintains a long position on the asset despite current volatility.
In a recent post on social media platform X, Armstrong directly addressed recent market turbulence, noting that investor sentiment often swings to extremes. In his view, the current situation is repeating a scenario familiar from past cycles. Short-term fluctuations, he added, do not change expectations for Bitcoin's long-term trajectory.
Four-Year Cycle and Reversal Signals
Armstrong attached a chart titled "Bitcoin 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 Armstrong, the current situation fits the familiar investor scenario and does not contradict the logic of long-term market movement.
He suggested that Bitcoin may have already found its price bottom, but refrained from drawing definitive 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 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.
Bitcoin Prospects 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, even though BTC itself remains under pressure. The industry, in his opinion, has long outgrown the framework of just Bitcoin, but many market participants have yet to see 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 predictions: 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 remain 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 identified will hold will become clear as the macroeconomic situation develops in the second half of 2026. His post has generated notable resonance. This indicates close attention from market participants to the opinions of key industry figures.
Cryptalist Analyst's Opinion: Armstrong's statement is not just emotional support but a clear signal from one of the most influential market players. The $60,000 level does indeed look like a strong support zone, but a breakout above $70,000 is needed to confirm a reversal. Until then, every bounce should be considered a correction within the bearish trend.