Coinbase CEO Brian Armstrong Says Bitcoin Has Bottomed and Predicts Two-Year Uptrend
(22 days ago) · 1 source · Summarized by CryptoBipto
Coinbase CEO Brian Armstrong has publicly stated his belief that bitcoin has reached its bottom for the current market cycle. He has expressed his expectation that bitcoin will enter an uptrend over the next two years.
WHY IT MATTERS
When the CEO of a major crypto exchange says bitcoin has "bottomed," it means he believes the price has fallen as low as it will go in this cycle and will rise from here. Think of it like the owner of a car dealership saying car prices are about to go up — they may have useful insight, but they also benefit if more people decide to buy. In crypto, prices tend to move in long cycles of rising and falling, sometimes lasting several years. These are often called "bull" (rising) and "bear" (falling) markets. It is worth remembering that no one can predict prices with certainty, and statements like these from industry leaders are opinions, not guarantees.
Read the full analysis with a CryptoBipto membership
Members can read the full analysis of every story, not just the headline.
Get startedSOURCES
- theblock.co
RELATED
Learn the concepts behind this
Clear explanations of the subjects this article touches, with every term defined.
- How do you buy cryptocurrency safely?How crypto exchanges, verification, on-ramps and order types work, so you understand each step of a first purchase before you make one.
- What are crypto market cycles and market sentiment?Bull and bear markets, all-time highs, capitulation, whales and the sentiment vocabulary crypto markets use, each explained on its own page.