Coinbase CEO Says Bitcoin Has Bottomed Out: Expects a Rally in the Next One to Two Years

Coinbase CEO Brian Armstrong stated that Bitcoin has hit its bottom in the current cycle and expects it to enter an upward trend over the next one to two years.

Speaking in an interview with Bloomberg Television, Coinbase CEO Brian Armstrong noted that he does not expect Bitcoin to retreat to lower levels in this cycle. Armstrong expressed his belief that the price could enter a bullish trend over the next year or two as it approaches the next halving.

Bitcoin traded at approximately $78,000 on Thursday. After a 1.7% decline in the last 24 hours, Bitcoin’s price remained 38% below its all-time high recorded at roughly $126,000.

Selling Pressure Eased as Bitcoin Recovers

Armstrong’s assessment comes as Bitcoin recovers from its summer lows. According to Glassnode data, Bitcoin surged 23% over 21 sessions leading up to September 9. During the same period, the S&P 500 and Nasdaq 100 indices saw a generally flat outlook.

Glassnode also reported that selling pressure eased as Bitcoin approached the resistance band between $83,000 and $86,000. The firm’s seven-day sell-side risk ratio dropped to 7 basis points daily. This ratio was at a peak of 16 basis points in August.

Armstrong also touched on growth areas beyond Bitcoin. Stating that stablecoin payments on Coinbase’s Base network have increased 700% year-over-year, Armstrong shared his forecast that the stablecoin market could reach $3 trillion by 2030. The executive listed payments, asset tokenization, prediction markets, and AI-powered finance among the areas Coinbase will focus on through 2027.