Coinbase Head: Bitcoin has found a bottom near $60,000 and is poised for a reversal — market cyclicality is confirmed
Brian Armstrong, CEO of Coinbase, has reaffirmed his unwavering faith in Bitcoin, calling it "new digital gold" and stating that he maintains a long position in the asset. In his recent address, he pointed out that the current market turbulence is just another chapter in a familiar cycle, with the bottom likely already reached near the $60,000 mark.
According to Armstrong, investor sentiment traditionally swings from one extreme to another, but short-term fluctuations should not overshadow long-term dynamics. He emphasized that the current situation perfectly fits the historical pattern of Bitcoin's four-year cycles, observed since 2011. In the chart he published, "Bitcoin Four-Year Cycles," alternating phases of growth and decline lasting approximately two years each are clearly visible, with a question mark placed in mid-2026.
Cyclicality as the Basis of the Forecast
Armstrong suggested that Bitcoin may have already found its price bottom, but refrained from making categorical statements. This position echoes his long-held belief: Bitcoin is not just a tool for speculation but a fundamental digital infrastructure. Debates around the four-year cycle have intensified this year. Analyst Benjamin Cowen, for example, holds the view that the pattern still works and predicts a possible bottom no earlier than the fourth quarter of 2026. Other experts point out that the influx of institutional capital and funds into spot ETFs has significantly accelerated the usual phases, compressing the timeframes.
Notably, Armstrong also criticized bearish forecasts, highlighting significant growth in stablecoins, prediction markets, and derivatives, even amid pressure on BTC itself. In his view, the industry has long outgrown the confines of a single Bitcoin, but many market participants have yet to realize this.
Looking to 2030: Bitcoin at $1 Million?
The optimism of Coinbase's head is not limited to the current price. He is confident that by 2030, 10% of the global economy will operate on cryptocurrencies. This 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 by 2030 the price will be significantly higher, and I still believe in Bitcoin," the businessman emphasized.
My expert view: Armstrong's statement is not just emotional support but a clear signal from one of the most influential players in the industry. The four-year cycle, despite increased institutional participation, retains its strength. The $60,000 level appears to be a psychologically and technically significant zone from which a reversal is possible. However, given macroeconomic uncertainty and potential tightening of Fed policy, relying solely on historical patterns would be imprudent. Nevertheless, for long-term investors, current corrections present an entry opportunity, not a reason for panic.