Coinbase CEO called $60,000 the bottom for Bitcoin: a new cycle has begun
Coinbase CEO Brian Armstrong has once again reaffirmed his unwavering faith in Bitcoin, calling it "new digital gold." In a recent statement, he indicated that the first cryptocurrency appears to have already reached a price bottom around $60,000 and is poised for a reversal.
Armstrong emphasized that he maintains a long position on the asset and is not succumbing to panic, despite recent market turbulence. According to him, the current situation is a classic scenario that investors have observed in previous cycles. Short-term fluctuations, no matter how painful, do not change Bitcoin's long-term trajectory.
Four-Year Cycle: History Repeats Itself
In his post on social media platform X, the Coinbase head attached a chart titled "Bitcoin Four-Year Cycles." It clearly shows alternating phases of growth and decline, each lasting approximately two years, starting from 2011. In mid-2026, the chart features a question mark, indicating a point of bifurcation. Armstrong is confident that the current downturn fits perfectly into this long-standing pattern.
Interestingly, analyst Benjamin Cowen holds a similar view but suggests the bottom may not be reached until the fourth quarter of 2026. Other experts note that the influx of institutional capital and funds into spot ETFs has significantly accelerated the usual phases of cycles, which could alter their timeframes.
2030 Forecast: Bitcoin at Millions
Armstrong also criticized the bearish sentiment surrounding the current price. He highlighted the sharp increase in volumes of stablecoins, prediction markets, and derivatives, indicating an industry maturity that has long outgrown the scope of just Bitcoin. However, the fundamental role of the first cryptocurrency remains unshaken.
The Coinbase CEO is confident that by 2030, 10% of the global economy will operate on cryptocurrencies. This forecast is based on a simple idea: Bitcoin is the foundational 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 concluded.
Cryptalist Expert Opinion: Armstrong's statement is a powerful signal for the market, but it should not be taken as a guarantee of immediate growth. The $60,000 level indeed looks like strong support, but we will only get final confirmation of the bottom when the price consolidates above $70,000. For now, it is more of a psychological anchor for long-term investors than a technical buy signal.