Brian Armstrong: Bitcoin has found a bottom near $60,000 and is ready for a reversal
Coinbase CEO Brian Armstrong has once again reaffirmed his unwavering faith in Bitcoin as a long-term asset, calling it "new digital gold." According to him, he maintains a long position in BTC and is convinced that the current correction is merely another phase within the established four-year cycle.
In a recent post on platform X, Armstrong directly addressed the recent market turbulence. He noted that investor sentiment, as often happens, swings from one extreme to another. In his view, a scenario already familiar to market participants from previous cycles is repeating itself. Short-term fluctuations, he added, do not change the fundamental expectations for the long-term dynamics of the first cryptocurrency.
Along with his message, the Coinbase CEO attached a chart titled "Bitcoin Four-Year Cycles." It clearly shows alternating phases of growth and decline since 2011, each lasting approximately two years. A question mark is placed on the chart in mid-2026. Armstrong believes the current situation fits perfectly into this familiar scenario for 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 final conclusions. It is worth noting that debates around the four-year cycle analysis have intensified this year. Analyst Benjamin Cowen, for example, 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 noticeably accelerated the usual phases of growth and decline, which could disrupt the classic cyclicality.
Armstrong also criticized bearish forecasts for Bitcoin's current price. He noted that stablecoins, prediction markets, and derivative instruments have grown significantly in recent months, even though BTC itself remains under pressure. The industry, in his opinion, has long outgrown the confines of a single 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 extends beyond 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.
Cryptalist Commentary: Armstrong's position is a classic example of the "bullish" narrative that the market loves in moments of panic. However, it is worth remembering that a bottom is not a point on a chart but a process. A local minimum forming near $60,000 is possible, but confirming a reversal will require a sustained breakout of key resistance levels and a shift in the macroeconomic backdrop. For now, we are seeing only an attempt at consolidation, not a full trend reversal.