Coinbase CEO Sees End of Crypto Bear Market

Coinbase CEO Brian Armstrong believes that the crypto bear market is coming to an end. He points out that current downturn has lasted for 10 months, which is about as long as past crypto bear markets have tended to last.

The Senate has scheduled a vote on the Clarity Act for September 15, and Armstrong is optimistic about its chances of passage. He thinks this legislation would be a tailwind for exiting the bear market.

Bitcoin's historical performance in the fourth quarter supports Armstrong's argument, with a median return of 47.7% during this period. Ethereum has also done well, with a median gain of 22.5%. However, things could be different this time due to changing dynamics in the market.