Bitcoin has found a bottom around $60,000: statement from Coinbase CEO and cycle analysis
Coinbase CEO Brian Armstrong has once again reaffirmed his unwavering faith in Bitcoin, calling it "new digital gold." In his statement, he emphasized that he maintains a long position on the asset despite the current market turbulence. In his view, investor sentiment, as in previous cycles, is once again swinging to extremes, but short-term fluctuations do not change the long-term dynamics of the first cryptocurrency.
Armstrong directly pointed out that Bitcoin has likely already reached its price bottom around $60,000. He accompanied his post with a chart titled "Bitcoin's Four-Year Cycles," which clearly shows alternating phases of growth and decline, each lasting approximately two years. A question mark is placed on the chart for mid-2026, hinting at a potential reversal or an important starting point for a new cycle.
Debates around Bitcoin's four-year cycle have only intensified this year. Analyst Benjamin Cowen, for example, believes the pattern is still working but expects a bottom no earlier than 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, which could shift the timeframes.
Armstrong also criticized bearish forecasts at current prices. He highlighted the notable growth of stablecoins, prediction markets, and derivative instruments, even though BTC itself remains under pressure. The industry, he said, has long outgrown the confines of just Bitcoin, but many market participants have yet to realize this.
Bitcoin's fundamental role remains unchanged. The current drawdown is just one of many cycles, and the asset's significance as basic digital infrastructure is beyond doubt. Armstrong is confident that by 2030, 10% of the global economy will operate on cryptocurrencies, and Bitcoin itself will be worth millions of dollars. His optimism is based on a simple idea: short-term price swings do not negate the long-term trend.
Cryptalist Commentary: Armstrong's statement is not just emotional support but a clear signal for the market. The $60,000 level indeed looks like a strong accumulation zone, especially against the backdrop of growing institutional interest. However, investors should remember: even if a bottom is formed, it does not guarantee an immediate rally. The market may consolidate in this range for several more months before a new upward impulse begins.