Bear market cycle will last 12-16 months - Coinbase CEO

Brian Armstrong, CEO of Coinbase expects that crypto-winter is moving into 2023 due to the fact that the chance of markets collapsing in the future is only increasing.

This Tuesday, crypto-billionaire Brian Armstrong was interviewed by CNBC. On it, he said that it will be more than a year before the market goes up. This is primarily due to the future decline, or altogether, collapse of the fiat markets.

“Obviously we are in a little bit of a down cycle here, but it’s not unusual for us. We have been through four cycles like this. As a company, we’re only 10 years old,” said Armstrong.

“Actually, it feels the same…when crypto goes down, everyone gets very pessimistic, and others fear [or] get distracted. They move on to other things, and when crypto is running up, they think it’s everything, and there’s a rational exuberance, and so neither one is true. We have this saying internally…it’s never as good as it seems it’s never as bad as it seems.” This is Brian's answer to the question of whether very aggressive FED policies are the cause of the general decline.

If you look at the statistics, Coinbase's earnings are down more than 60%, their stock is down 80%, and cryptocurrency assets are down 40% since November 8th.