Has Bitcoin found a bottom near $60,000? Coinbase CEO's opinion heats up the market
Coinbase CEO Brian Armstrong has once again reaffirmed his long-term belief in Bitcoin, calling it "new digital gold." According to him, he maintains a long position on the asset despite the current turbulence.
In his recent address, Armstrong directly addressed market sentiment, noting that investors often swing to extremes. In his view, a scenario already familiar from past cycles is repeating itself now. Short-term fluctuations, he added, do not change expectations for Bitcoin's long-term dynamics.
Four-year cycles and a reversal signal
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 in mid-2026. According to the Coinbase head, 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 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 of Bitcoin's 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.
On Bitcoin's prospects and the 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, 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 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 am, as always, optimistic — I think the price will be significantly higher by 2030, and I still believe in Bitcoin," the businessman emphasized.
Whether the $60,000 level outlined by Armstrong will hold will become clear as the macroeconomic situation develops in the second half of 2026. His post has generated notable resonance. This indicates the close attention market participants pay to the opinions of key industry figures.
Expert opinion from Cryptalist: Armstrong's statements are a classic example of a "bullish" narrative from an industry leader. However, the market is currently in a consolidation phase, and confirming a bottom at $60,000 will require not only faith but also a steady inflow of liquidity. For now, macroeconomic risks and regulatory uncertainty in the U.S. remain key pressure factors.