Coinbase CEO: Bitcoin has found a bottom at $60,000 and is ready for a reversal
Coinbase CEO Brian Armstrong has once again reaffirmed his unwavering belief in Bitcoin, calling it "new digital gold." In his recent address, he confirmed that he maintains a long position on the asset despite the current market turbulence.
Armstrong notes that investor sentiment, as often happens, swings to extremes, and we are currently witnessing a repeat of a scenario well-known from past cycles. In his view, short-term fluctuations do not negate Bitcoin's long-term momentum. Moreover, he directly suggested that the psychologically important level of $60,000 could be a local bottom from which a reversal will begin.
Four-Year Cycle: Is the Scenario Repeating?
In his post, the Coinbase head attached a chart titled "Bitcoin Four-Year Cycles." It clearly shows alternating phases of growth and decline since 2011, each lasting approximately two years. A question mark is placed at mid-2026 on the chart. Armstrong insists that the current situation perfectly fits the pattern familiar to investors and does not contradict the logic of long-term market movement.
Notably, analyst Benjamin Cowen holds a similar view, believing the pattern is still working but expects a probable bottom no earlier than the fourth quarter of 2026. Other experts point out that institutional capital and inflows into spot ETFs have significantly accelerated the usual phases, which could shift the timeline.
Looking to 2030: Bitcoin at $1 Million?
Armstrong did not limit himself to analyzing the current moment. He criticized bearish forecasts, noting that stablecoins, prediction markets, and derivative instruments have grown noticeably in recent months, even though BTC itself remains under pressure. The industry, he says, has long outgrown the framework of a single Bitcoin, but many market participants have yet to see this.
At the same time, he emphasized the asset's fundamental role: the current drawdown is just one of many cycles, and Bitcoin's significance as a basic digital infrastructure remains unchanged. This aligns with his long-standing predictions: sooner or later, Bitcoin will be worth millions of dollars. Armstrong is confident that by 2030, 10% of the global economy will operate on cryptocurrencies.
"I am, as always, optimistic — I think by 2030 the price will be significantly higher, and I still believe in Bitcoin," the businessman concluded.
Expert opinion. Armstrong's statement is a powerful signal for the market, especially at a moment when panic is peaking. However, it is worth remembering that the Coinbase head is an interested party, and his optimism may not account for macroeconomic risks, such as tightening of the Fed's monetary policy or geopolitical shocks. Nevertheless, Bitcoin's historical cyclicality does provide grounds for cautious optimism, especially given growing institutional adoption.