Bitcoin found a bottom near $60,000: Coinbase CEO predicts a reversal
Brian Armstrong, CEO of Coinbase, has reiterated 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 market turbulence.
In a recent post on platform X, Armstrong directly addressed the recent volatility, noting that investor sentiment, as usual, swings to extremes. In his view, the scenario now playing out is familiar from past cycles. Short-term fluctuations, he added, do not change expectations for Bitcoin's long-term trajectory.
Four-Year Cycles and Market Bottom
Armstrong attached a chart titled "Bitcoin 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 at mid-2026. According to Armstrong, the current situation fits a familiar pattern 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 definitive conclusions. The debate over four-year cycle analysis has intensified this year. Analyst Benjamin Cowen believes the pattern still holds 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 cycles before. He has previously explained why Bitcoin is important for the U.S. economy, calling the asset not just a trading tool but also a store of value.
Bitcoin Outlook and 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 confines of Bitcoin alone, 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.
"I'm as optimistic as ever—I think the price will be significantly higher by 2030, and I still believe in Bitcoin," the businessman emphasized.
Whether the level Armstrong identified holds will become clear as the macroeconomic situation unfolds in the second half of 2026. His post has generated notable resonance. This reflects the close attention market participants pay to the opinions of key industry figures.
Expert opinion: Armstrong's statement is not just an optimistic forecast but a clear signal for institutional investors. The $60,000 level could serve as psychological support, but to confirm a reversal, the market needs to consolidate above $65,000. For now, we are seeing a classic battle between bulls and bears amid macroeconomic uncertainty.