Coinbase CEO Sees Upcoming Halving Event as Catalyst for Bitcoin Price Growth

Coinbase CEO Brian Armstrong recently spoke on CNBC's Squawk Box Asia about regulatory clarity and its potential impact on the crypto industry. He was also asked to share his thoughts on the Bitcoin price, particularly in light of current global market pressures.

Armstrong believes that the bottom is in for Bitcoin in this cycle, citing the typical 4-year cycles the cryptocurrency follows. He pointed out that most down periods last about a year and noted that the current period has already reached its one-year mark.

The CEO also highlighted the significant increase in price from the July 1 low of below $60,000 ($57,717), which he attributed to the anticipation of regulatory progress, including the Clarity Act. He mentioned that if it fails, subsequent rulemaking could impact Bitcoin's price.

Armstrong expressed optimism about the next year or two for Bitcoin, stating 'I think the next year or two is going to be good for Bitcoin.' He also noted a potential price run-up before the upcoming halving event in mid-April 2028 at block height 1,050,000.

At the time of writing, Bitcoin was trading at $79,070 after reaching a high of $82,283 on September 3. The CEO's statements come as Bitcoin is experiencing its current cycle, and market participants are looking for signs of a potential rebound.