Armstrong Sees Bull Market Looming for Cryptocurrency

Coinbase CEO Brian Armstrong believes that the cryptocurrency market may be on the cusp of a new upswing and potentially even a bull market. In an interview with CNBC, he stated that 'there's a very good chance we're standing at the threshold of the next bull market.'

The key variable for the market, according to Armstrong, is the US crypto market structure bill known as the CLARITY Act. The progress toward a vote on the bill, expected on September 15th, will likely be closely watched by investors.

Armstrong also pointed out that seasonal patterns after Bitcoin's halving suggest further gains may be in store. Historically, Bitcoin has performed relatively well from October through December following a halving event.