Brian Armstrong Believes Bitcoin Bottomed And Expects A Long‑range Move Toward Halving

TL;DR

• Armstrong stated on Bloomberg Television that Bitcoin has bottomed in the current cycle and expects a bullish trend over the next two years.
• Bitcoin was trading near $78,000 on Thursday, down 1.7% and approximately 38% below its all-time high of $126,000.
• Glassnode reported that selling pressure dropped by more than half compared to the August peak, as BTC climbed 23% over 21 sessions.

Brian Armstrong, CEO of Coinbase, stated that bitcoin has bottomed in the current cycle and projected a bullish trend for the next one to two years, ahead of the cryptocurrency’s next halving. His remarks were made during an interview with Bloomberg Television.

“Personally, I believe we already saw the bottom of bitcoin’s price in this cycle,” Armstrong said. “It’s going to start going up over the next year or two, as we get closer to the next halving event,” he added.

At the time of the interview, bitcoin was trading around $78,000, posting a 1.7% decline over 24 hours and approximately 38% below its all-time high of $126,000, according to data from CoinMarketCap.

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