Brian Armstrong cites historical cycles and recent price action as signs of a potential bitcoin bottom at $60,000.
Coinbase CEO Brian Armstrong said bitcoin may have found a bottom around $60,000, though he acknowledged uncertainty remains. His comments follow a rebound to above $66,000 after the token dipped to $59,743 earlier this month, its lowest level since October 2024.
Armstrong pointed to bitcoin’s four-year cycle, which has historically marked price lows, as support for his view. He remains bullish long-term, predicting significantly higher prices by 2030, and described bitcoin as “the new digital gold.”
Bitcoin’s recent recovery coincided with geopolitical developments, including a deal to reopen the Strait of Hormuz. However, analysts caution that weak demand and unstable ETF flows could undermine a sustained rally.