Armstrong Predicts Bitcoin Bottom Reached, Sees Trend Upward

Coinbase CEO Brian Armstrong believes that Bitcoin has hit its bottom in this cycle and will begin to trend upward over the coming year or two, coinciding with the next halving event.

Armstrong made these comments during an interview on Bloomberg Television in Singapore, noting that Bitcoin goes through four-year cycles. He expressed optimism about the future of Bitcoin, saying, 'I personally think we’ve seen the bottom of the Bitcoin price in this cycle, and it’s going to start to trend up over the coming year or two as we reach the next halving event.'

Armstrong also discussed regulatory clarity for the crypto industry, stating that it has been improving. He mentioned the Clarity Act, which is 'right on the finish line' in the Senate, and believes its passage would be a significant milestone for the industry.

The Coinbase CEO expressed confidence that even if the bill doesn't pass, U.S. regulators will still provide clear rules for the crypto industry. He noted that the SEC and CFTC have signaled their readiness to act regardless of the bill's outcome, stating, 'So we’ll either get it from the Senate or from the regulators I think in the next week or two.'