Coinbase CEO: Bitcoin has found a bottom around $60,000 and is ready for 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 and is convinced that the current correction is just another phase of the familiar four-year cycle.
In a recent post on X, Armstrong directly addressed market turbulence, noting that investor sentiment often swings to extremes. In his view, the current scenario repeats a pattern well-known from past cycles: short-term fluctuations do not change Bitcoin's long-term dynamics. He believes the bottom has already been reached around $60,000, and the asset is ready for a reversal.
Four-Year Cycle: History Repeats Itself
Armstrong attached a chart titled "Bitcoin Four-Year Cycles" to his post. It clearly shows alternating phases of growth and decline since 2011, each lasting approximately two years. A question mark is placed in mid-2026, but the Coinbase head is confident that the current situation fits the familiar investor scenario and does not contradict the logic of long-term market movement.
Debates around four-year cycle analysis have intensified this year. Analyst Benjamin Cowen believes the pattern still works 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, which could shift the familiar timing.
Long-Term Optimism
Armstrong also criticized bearish forecasts for Bitcoin's current price. According to him, stablecoins, prediction markets, and derivative instruments have grown noticeably in recent months, even though BTC itself remains under pressure. In his view, the industry 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.
"I remain as optimistic as ever—I think the price will be significantly higher by 2030, and I still believe in Bitcoin," the businessman emphasized.
Armstrong 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.
Expert opinion: Armstrong's stance is a classic example of institutional patience. However, it is worth remembering that the four-year cycle is not a rigid law. ETF inflows and macroeconomic factors could either accelerate or delay a reversal. As long as Bitcoin holds above $60,000, chances for a bullish scenario remain, but confirmation requires a confident breakout of resistance in the $70,000–$72,000 zone.