Coinbase CEO Sees Bitcoin's Bottom, But History May Have Other Plans

Coinbase CEO Brian Armstrong believes Bitcoin has already seen its lowest price of this cycle, bucking the trend of previous downturns. Armstrong's prediction is based on historical patterns, where Bitcoin bottoms arrived 924 to 999 days after a halving, a window that opens around Halloween 2026 in the fourth cycle. However, Armstrong notes that the bottom is better seen as a roughly $60,000 to $66,000 price zone, rather than a single date. The CEO also acknowledged that predicting a market bottom is a challenging task, even for experienced investors.

Bitcoin's latest downturn saw its price drop by 51.8% from its peak near $124,800 on October 6, 2025, to about $60,100 by June 29, 2026. However, the current price of around $85,200, up 41.6% from June's low, suggests that the worst of the dips may be behind it. The growing crowd of institutional buyers, as well as a fixed max supply of 21 million coins, are some of the factors that support Armstrong's optimistic view.

The article highlights the importance of understanding the cyclical patterns of Bitcoin's price movements, rather than relying on a single prediction or date. By considering the broader context, investors can make more informed decisions and navigate the volatile cryptocurrency market.