Armstrong Sees Bottom at $60,000 for Bitcoin

Coinbase CEO Brian Armstrong believes that $60,000 is the bottom for Bitcoin. This follows a major market crash in 2022 where Bitcoin lost 64% of its value.

The four-year cycle of boom or bust is a key factor to consider for crypto investors. Historically, Bitcoin has always been a boom-or-bust asset, either performing exceptionally well or poorly. Three good years are typically followed by one very bad year.

Despite the volatility, Bitcoin has an upward trajectory over the long term. After every major market crash, it has recovered to hit new all-time highs. Armstrong pointed out that a multitude of factors could push Bitcoin higher over the next 12 months, including increased regulatory clarity and steady buying by institutional investors.