Analysis: Bitcoin’s Potential “Bottom” at $60,000 — Assessment by Coinbase CEO
Coinbase CEO Brian Armstrong has stated that the current correction level of bitcoin around $60,000 could turn out to be a cyclical low. However, he emphasized that in such a volatile market, there is no complete certainty about this scenario.
Armstrong confirmed that he maintains a long position on the first cryptocurrency, viewing bitcoin as "new digital gold." In his opinion, fundamental factors — primarily the historical four-year halving cycle — point to a significant increase in the asset's value by 2030. He expects prices to be substantially higher than current levels in the long term.
It is worth noting that the assessment of $60,000 as a potential "bottom" coincides with a zone of psychological and technical support that has been repeatedly tested by the market in recent weeks. Nevertheless, I would recommend caution: although the fundamental narrative about the halving remains strong, short-term volatility could lead to deeper drawdowns, especially amid macroeconomic uncertainty and regulatory risks. In current conditions, betting on a "bottom" is more of an intuitive assessment than a strict analytical conclusion.