Coinbase CEO Armstrong Says Bitcoin Cycle Bottom Is In, Sees Uptrend Over Next Two Years

Coinbase Chief Executive Brian Armstrong expects Bitcoin to rise as the cryptocurrency approaches its next halving, saying he believes the market has already reached its low for the current cycle.

Armstrong outlined that view during a Bloomberg Television interview on Thursday, placing the potential improvement in Bitcoin’s trajectory within the next one to two years. The outlook represented his own market assessment rather than an established conclusion. 

Early Thursday, Bitcoin traded near $78,000, CoinGecko data showed. The cryptocurrency had fallen 1.7% over the previous 24 hours and remained roughly 38% below its record of about $126,000. Bitcoin had nevertheless climbed from its summer lows before Armstrong’s remarks. 

Glassnode Data Points to Lighter Selling 

Measures tracked by Glassnode showed that selling intensity eased as Bitcoin moved toward the $83,000-to-$86,000 resistance zone.

The firm’s seven-day Sell-Side Risk Ratio was running at 7 basis points a day, versus a peak of 16 basis points in August. Glassnode interpreted the decline to less than half the August level as evidence that selling pressure had weakened. 

Meanwhile, Bitcoin had separated sharply from major U.S. equity benchmarks in recent trading. A Glassnode research note released Wednesday calculated a 23% Bitcoin gain over the 21 trading sessions ending Sept. 9, while the S&P 500 and Nasdaq 100 were approximately flat during the same period.

Armstrong Highlights Coinbase’s 2027 Priorities

Armstrong’s comments also covered areas outside Bitcoin that he sees as important to Coinbase’s future growth.

For 2027, he singled out payments, prediction markets, tokenization and agentic finance as four areas of focus for the company. 

On payments, Armstrong said activity involving stablecoin payments on Base has increased 700% year over year. He also referred to a forecast that puts the stablecoin market at $3 trillion by 2030.