Coinbase CEO states that Bitcoin is forming a bottom near $60,000 and is ready for a reversal.
Brian Armstrong, CEO of Coinbase, has reaffirmed his long-term faith in Bitcoin, calling it "new digital gold." He stated that he maintains a long position on the asset despite current volatility.
In a recent statement, Armstrong noted that investor sentiment often swings to extremes, and the market is currently repeating a scenario well-known from previous cycles. In his view, short-term fluctuations do not negate Bitcoin's long-term upward trend.
Armstrong published a chart titled "Bitcoin's Four-Year Cycles," showing alternating phases of growth and decline since 2011, each lasting approximately two years. A question mark is placed in mid-2026 on the chart. The Coinbase head believes the current situation fits perfectly into this cyclical logic and does not contradict the long-term market movement.
He suggested that Bitcoin may have already found its price bottom but refrained from making definitive conclusions. Debate around the four-year cycle has 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. Other experts point out that institutional capital and inflows into spot ETFs have significantly accelerated the usual phases of growth and decline.
Armstrong also criticized bearish forecasts at Bitcoin's current price. He noted significant growth in stablecoins, prediction markets, and derivative instruments, even though BTC itself remains under pressure. The industry, he said, has long outgrown the framework of just Bitcoin, but many market participants have yet to realize this.
At the same time, he emphasized Bitcoin's fundamental role. The current drawdown, according to Armstrong, 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.
The Coinbase CEO'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 foundational digital infrastructure, and short-term price swings do not change that.
Whether the level Armstrong identified will hold will become clear as the macroeconomic situation develops in the second half of 2026. His statement has generated notable resonance, indicating close attention from market participants to the opinions of key industry figures.
Analyst's comment: Armstrong's statement is not just an optimistic forecast but a clear signal to the market. He essentially confirms that the current correction is a healthy phase of the cycle, not the start of a prolonged bearish trend. However, investors should remember that even during bottom formation, retests of levels are possible, and $60,000 is not an absolute guarantee but rather a psychologically important support zone.