Long-awaited peace announcements have arrived in the ongoing conflict between the US and Iran. In this context, US President Donald Trump stated that the US and Iran have agreed to “open the Strait of Hormuz freely.”
Positive developments have boosted Bitcoin and gold, while causing a sharp drop in oil. As BTC shows signs of recovery, Coinbase CEO Brian Armstrong made some noteworthy comments.
Brian Armstrong, CEO of Coinbase, the largest cryptocurrency exchange in the US, said he believes Bitcoin has hit bottom.
Appearing on Peter Diamandis’s Moonshots program, Brian Armstrong reiterated his bullish outlook for Bitcoin, predicting its price will be much higher by 2030.
Expressing strong optimism about the future of Bitcoin, the Coinbase CEO said:
“I think Bitcoin is the new digital gold. I believe it will be a vital part of our economy in the future. That’s why I’m optimistic as ever.”
I am as optimistic as ever about Bitcoin and I am still in a long position.”
Armstrong also stated that there were several reasons for the price drop in recent weeks, but the main reason for the latest declines was the huge interest in AI stocks.
The renowned CEO concluded by referring to Bitcoin’s historical 4-year cycles, emphasizing that periods of rise and fall alternate between them from 2011 to 2025.
At this point, Armstrong said he believes Bitcoin, having rebounded from the $60,000 level, has now hit bottom.
“We can see, to some extent, the percentage of those who are making money and those who aren’t, and my gut feeling tells me we’ve probably hit the bottom at around $60,000. Still, nobody knows the exact peaks and troughs, but that’s my personal opinion.”
*This is not investment advice.
