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 this outlook during a Bloomberg Television interview on Thursday, placing the potential improvement in Bitcoin's trajectory within the next one to two years.
Early Thursday, Bitcoin traded near $78,000 according to CoinGecko data. 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.
Selling Pressure Eases
Data 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, suggesting selling pressure had weakened. Bitcoin had also separated sharply from major U.S. equity benchmarks in recent trading, gaining 23% over the 21 trading sessions ending September 9, while the S&P 500 and Nasdaq 100 were approximately flat during the same period.
2027 Strategic Focus Areas
Armstrong also outlined areas he sees as important to Coinbase's future growth. For 2027, he singled out payments, prediction markets, tokenization, and agentic finance as four focus areas for the company.
On payments, Armstrong noted that stablecoin payment activity on Base has increased 700% year over year. He also referenced a forecast placing the stablecoin market at $3 trillion by 2030.
