Coinbase Head: Bitcoin has bottomed near $60,000 and is poised for a reversal — cycle analysis
Coinbase CEO Brian Armstrong has reaffirmed his bullish stance on Bitcoin, calling it "new digital gold." He stated that he maintains a long position on the asset despite recent market turbulence.
In a post on X, Armstrong directly addressed the current volatility, noting that investor sentiment often swings to extremes. In his view, the current scenario is repeating a pattern already familiar from past cycles. Short-term fluctuations, he added, do not change expectations for Bitcoin's long-term trajectory.
Bitcoin's Four-Year Cycles and Views on Market Bottom
Armstrong attached a chart titled "Bitcoin's Four-Year Cycles" to his post. It shows alternating phases of growth and decline since 2011, each lasting roughly two years. A question mark is placed at mid-2026. According to Armstrong, the current situation fits a scenario familiar to investors and does not contradict the logic of long-term market movement.
He suggested that Bitcoin may have already found its price bottom, but refrained from drawing definitive conclusions. Debate around the four-year cycle analysis has intensified this year. Analyst Benjamin Cowen believes the pattern is still working and expects a likely bottom no earlier than the fourth quarter of 2026. Others note that institutional capital and inflows into spot ETFs have noticeably accelerated the usual phases of growth and decline.
Armstrong has held this view of Bitcoin's cycles previously. He has already explained why Bitcoin is important for the U.S. economy, calling the asset not only a trading tool but also a store of value.
On Bitcoin's Prospects and the 2030 Forecast
Armstrong also criticized bearish forecasts for Bitcoin's current price. According to him, stablecoins, prediction markets, and derivative instruments have grown significantly in recent months, although BTC itself remains under pressure. The industry, in his opinion, has long outgrown the framework 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 forecasts: sooner or later, Bitcoin will be worth millions of dollars.
Armstrong's optimism is not limited to price. He 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 basic digital infrastructure, and short-term price swings do not change that.
"I am as optimistic as ever — I think the price will be significantly higher by 2030, and I still believe in Bitcoin," the businessman emphasized.
Whether the level Armstrong indicated will hold will become clear as the macroeconomic situation develops in the second half of 2026. His post has generated notable resonance. This indicates close attention from market participants to the opinions of key industry figures.
Cryptalist Analytical Conclusion: Armstrong's position is a classic example of faith in a long-term trend, backed by historical data. However, investors should remember that even with confirmed cyclicality, entry timing remains a critical factor. The $60,000 level could serve as psychological support, but for a confident market reversal, fresh macroeconomic drivers will be needed, not just optimism from industry leaders.