Armstrong Sees Crypto Bull Run Ahead, Cites Key Factors

Coinbase Global's CEO Brian Armstrong believes that the crypto market is on the verge of a new bull run.

According to Armstrong, three key factors support his prediction: the duration of the current bear market, the upcoming Clarity Act vote in the Senate, and Bitcoin's historical performance during the fourth quarter.

The current downturn has lasted around 10 months, which is roughly as long as crypto bear markets have typically lasted in the past. The Senate's scheduled vote on the Clarity Act for September 15 could provide a tailwind for exiting the bear market, and Armstrong notes that Bitcoin has historically done well during the fourth quarter, with a median return of 47.7%.

However, there are potential headwinds to consider, including the possibility of higher interest rates, which have historically been negative for crypto markets.