Bitcoin Bottomed for Current Cycle: Coinbase CEO Armstrong

Coinbase CEO Brian Armstrong believes that Bitcoin has reached its bottom for the current cycle and expects it to trend higher over the next one to two years leading up to the next halving event.

In a recent interview on Bloomberg Television, Armstrong stated, 'I personally think we've seen the bottom of the bitcoin price in this cycle.'

The Bitcoin price has been recovering from its summer lows, gaining 23% over 21 sessions through September 9, according to Glassnode's research note.

Armstrong also pointed to growth beyond Bitcoin, citing a 700% year-over-year increase in stablecoin payments on Base and projecting the stablecoin market to reach $3 trillion by 2030.