Has Bitcoin found a bottom near $60,000? The opinion of Coinbase's CEO and my view on the market
The head of the largest American crypto exchange Coinbase, Brian Armstrong, suggested that Bitcoin has likely already reached its local bottom around $60,000. However, he honestly admitted that there is no 100% certainty in this — the market remains extremely volatile, and any forecasts carry risk.
Armstrong confirmed that he maintains a long position on the asset, viewing Bitcoin as "new digital gold." According to his estimates, by 2030 the value of the first cryptocurrency could significantly increase, which he links to the historical four-year halving cycle — a mechanism that reduces the issuance of new coins every four years.
My analysis: what lies behind this statement?
The statement from the Coinbase CEO is not just an optimistic forecast but a signal for institutional investors. The psychological level of $60,000 is indeed an important support: it has been tested multiple times in 2024, and as long as the market holds this zone, the bearish scenario is postponed. However, I would note that "bottom" is a relative concept. Amid macroeconomic uncertainty and regulatory risks, even $60,000 could be just an intermediate stop.
From an on-chain analysis perspective, the current situation resembles an accumulation phase before the next halving. Historically, Bitcoin has shown sharp growth within 12–18 months after the block reward reduction. If this pattern holds, we could see new all-time highs by 2025–2026. But relying solely on cyclicality without considering fundamental factors — such as liquidity inflows from ETFs or Fed policy — would be naive.
Expert conclusion. Personally, I agree with Armstrong in the long term: Bitcoin remains the best hedge against inflation among digital assets. However, in the short term, I do not rule out a retest of $60,000 and even a temporary break below this level. Investors should be prepared for high volatility but not panic — the fundamental growth drivers remain in place.