Coinbase CEO Sees Bitcoin Bottomed Out, Predicts Upward Trend

Coinbase CEO Brian Armstrong believes Bitcoin has hit its bottom in the current cycle and expects it to enter an upward trend over the next one to two years.

In an interview with Bloomberg Television, Armstrong stated that he does not expect Bitcoin to retreat to lower levels in this cycle. He expressed his belief that the price could enter a bullish trend as it approaches the next halving.

Bitcoin's current price of approximately $78,000 is 38% below its all-time high of roughly $126,000. However, Armstrong's assessment comes as Bitcoin recovers from its summer lows, surging 23% over 21 sessions leading up to September 9.