Coinbase CEO Brian Armstrong says bitcoin has bottomed for current cycle, expects uptrend over next two years

Coinbase CEO Brian Armstrong said he believes bitcoin has found its cycle low and will likely move higher over the next one to two years, ahead of the cryptocurrency's next halving. Armstrong made the comments in a Bloomberg Television interview on Thursday.

Bitcoin traded around $78,000 early Thursday, down 1.7% over 24 hours and roughly 38% below its record high of about $126,000. Armstrong's outlook suggests he expects the largest digital asset to recover from that drawdown as the next halving approaches.

His view aligns with recent signs of improving market structure. Glassnode said in a Wednesday research note that bitcoin gained 23% over 21 sessions through Sept. 9, while the S&P 500 and Nasdaq 100 were broadly flat over the same period. The analytics firm also found that selling pressure had eased as bitcoin approached an overhead resistance band between $83,000 and $86,000. Its seven-day Sell-Side Risk Ratio was 7 basis points per day, less than half the 16 basis points recorded at the August peak.

Stablecoin growth

Armstrong pointed to growth beyond bitcoin. He said stablecoin payments on Base have risen 700% year over year, and cited projections that the stablecoin market could reach $3 trillion by 2030. He identified payments, tokenization, prediction markets, and agentic finance as four key areas for Coinbase heading into 2027.

The remarks place Coinbase's CEO among market participants betting that the current downturn has run its course. The source also showed positive ticker moves for Coinbase and bitcoin, though the broader market remains well below bitcoin's prior peak.