Coinbase CEO Brian Armstrong says Bitcoin cycle low has been reached
Bitcoin goes through these four-year cycles. Personally, I believe we’ve already seen the low price for Bitcoin in this cycle, and that it will start rising over the next year or two as we get closer to the next halving event, Armstrong said in an interview with Bloomberg Television on Thursday in Singapore.
He also noted that regulatory clarity for the crypto industry has improved significantly, saying the Clarity Act is about to cross the finish line in the Senate.
Armstrong said the legislation would be a major milestone for cryptocurrencies if it is passed. He added that U.S. regulators have said they are willing to act regardless of the bill’s outcome. If it doesn’t pass, regulators in the U.S.—the SEC and the CFTC—have said they are ready to issue clear rules anyway. So we’ll get it from the Senate or from regulators, I think in the next week or two, he said.
Bitcoin fell slightly to $78,033.6 at 8:52 (Spain time) on Thursday, pressured by the escalation of the U.S.-Iran conflict and rising Treasury yields, which weighed on demand for risk assets. Crypto market prices overall also traded lower.
$BTC
Bitcoin goes through these four-year cycles. Personally, I believe we’ve already seen the low price for Bitcoin in this cycle, and that it will start rising over the next year or two as we get closer to the next halving event, Armstrong said in an interview with Bloomberg Television on Thursday in Singapore.
He also noted that regulatory clarity for the crypto industry has improved significantly, saying the Clarity Act is about to cross the finish line in the Senate.
Armstrong said the legislation would be a major milestone for cryptocurrencies if it is passed. He added that U.S. regulators have said they are willing to act regardless of the bill’s outcome. If it doesn’t pass, regulators in the U.S.—the SEC and the CFTC—have said they are ready to issue clear rules anyway. So we’ll get it from the Senate or from regulators, I think in the next week or two, he said.
Bitcoin fell slightly to $78,033.6 at 8:52 (Spain time) on Thursday, pressured by the escalation of the U.S.-Iran conflict and rising Treasury yields, which weighed on demand for risk assets. Crypto market prices overall also traded lower.
$BTC
