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BTC Has the bottom of the Bitcoin cycle reached? Coinbase CEO looks forward to strong recovery in the next 1-2 years
As the cryptocurrency market continues to discuss the launch of Bitcoin's next major market, Coinbase CEO Brian Armstrong issued a compelling forecast. Armstrong said he believes Bitcoin has passed the bottom of the cycle and expects to re-enter a significant upward channel in the next 1 to 2 years. In addition, the well-known CEO also expressed important views on the U.S. crypto regulatory environment, the Clarity Act, and Coinbase's plans for tokenization of stocks.
Coinbase CEO: Bitcoin's bottom signal is clear
In an interview with CNBC's "Squawk Box Asia" program, Brian Armstrong expressed optimism about the future price trend of Bitcoin. According to his analysis, BTC may have established its lowest point in the current market cycle and is expected to start a strong rising cycle.
Armstrong made it clear in his statement: "I think Bitcoin has reached a bottom in the current cycle. It is expected that prices will once again enter a significant upward trend in the next 1 to 2 year timeframe."
Armstrong further pointed out that the lag in policy clarity by U.S. regulators is also one of the reasons for the recent extension of the downturn in the crypto market. Among his predictions, what attracts special attention is the time span he sets. Instead of focusing on short-term price fluctuations, Coinbase's CEO focuses on macro trends over the next one to two years and looks forward to a broader level of upward trend. In his view, as the uncertainty about regulation of the crypto industry in the United States decreases, this will become an important catalyst to promote the market. The clarity of the regulatory framework may also profoundly affect the strategies and pace of institutional investors entering the cryptocurrency market.
The critical voting date for the Clarity Act is approaching
Brian Armstrong also expressed important views on the Clarity Act under review by the U.S. Congress. According to Coinbase's CEO, negotiations are in the final stages, and the vote expected on September 15 will play a key role in eliminating market uncertainty.
Armstrong said: "If the bill passes, we will finally have a clear legal basis. If it is not passed, the SEC and CFTC are ready to formulate rules based on their existing authority."
According to the CEO's analysis, even if the Clarity Act fails to be passed, the SEC and CFTC can continue to advance regulatory measures against the crypto market within their existing terms of authority. At the same time, Armstrong's speech also highlighted Coinbase's future strategic plan. He pointed out that the company is ready in the field of tokenized stocks and believes that the removal of regulatory barriers will significantly expand the application scenarios of cryptocurrencies. In addition, he also listed areas such as stablecin payments, artificial intelligence-driven proxy economies, and forecasting markets, which he believed would be key drivers supporting the future growth of the crypto industry.
Comprehensive Assessment
Brian Armstrong's view that "the bottom of Bitcoin has reached" and expects a significant upward trend in the next one to two years has aroused widespread market attention to long-term expectations. However, the factors that determine the future direction of BTC are not limited to technical performance. Regulatory developments in the United States and the needs of institutional investors are also decisive. In particular, the possible progress surrounding the Clarity Act on September 15 and subsequent actions taken by the SEC and CFTC will be key indicators that need to be closely watched in the crypto market.
