TL;DR
- Armstrong stated on Bloomberg Television that Bitcoin has bottomed in the current cycle and expects a bullish trend over the next two years.
- Bitcoin was trading near $78,000 on Thursday, down 1.7% and approximately 38% below its all-time high of $126,000.
- Glassnode reported that selling pressure dropped by more than half compared to the August peak, as BTC climbed 23% over 21 sessions.
Brian Armstrong, CEO of Coinbase, stated that bitcoin has bottomed in the current cycle and projected a bullish trend for the next one to two years, ahead of the cryptocurrency’s next halving. His remarks were made during an interview with Bloomberg Television.
“Personally, I believe we already saw the bottom of bitcoin’s price in this cycle,” Armstrong said. “It’s going to start going up over the next year or two, as we get closer to the next halving event,” he added.
At the time of the interview, bitcoin was trading around $78,000, posting a 1.7% decline over 24 hours and approximately 38% below its all-time high of $126,000, according to data from CoinMarketCap.
Armstrong Eyes the Next Halving: A Long-Term Bet
Bitcoin has rebounded from its summer lows. A report published Wednesday by Glassnode noted that bitcoin posted a 23% gain over 21 sessions through September 9, while the S&P 500 and Nasdaq 100 remained virtually flat over the same period.
The same report highlighted that selling pressure dropped significantly as bitcoin began approaching a resistance zone between $83,000 and $86,000. The seven-day sell-side risk index stood at 7 basis points per day, less than half the 16 basis points recorded at the August peak.
Beyond Bitcoin: Stablecoins and New Growth Vectors
Armstrong also pointed to growth in other segments of the crypto industry. Stablecoin payments on Base, Coinbase’s layer-2 network, grew 700% year-over-year. He also cited projections placing the stablecoin market at $3 trillion by 2030. He identified payments, tokenization, prediction markets, and agentic finance as the four key areas for Coinbase heading into 2027.
