Coinbase CEO Encourages Crypto Community to Stay Strong Through Bear Markets

Coinbase CEO Brian Armstrong has taken to Twitter to a share a motivational message to employees and the crypto community, encouraging them to stay optimistic through the wild fluctuations of the cryptocurrency market and stating that downturns and bear runs are the ideal time for Coinbase to make progress as a company.

In a series of Tweets shared on June 19, Armstrong noted the repetitive history of Bitcoin bubbles throughout 2013, 2014, and 2017, stating that the crypto industry is like no other he's seen.

The crypto market states Armstrong, follows a pattern of up and down cycles that reach a new plateau every time.

Once you've been in the market long enough, according to Armstrong, crypto cycles seem like "Old news."

"When there is hype, people are irrationally exuberant. When there is despair, people are irrationally pessimistic. Neither is true. Reality is always somewhere in the middle, more correlated with real usage than the price."

The Coinbase team has significantly increased in size due to the execution of a recent initiative to double the headcount of Coinbase employees, bringing in a range of new talent that perhaps isn't as familiar with the wild swings of the crypto market.

"After many years of this, I've come to enjoy the down cycles in crypto prices more. It gets rid of the people who are in it for the wrong reasons, and it gives us an opportunity to keep making progress while everyone else gets distracted. We use the down cycles to build a strong foundation so we can thrive in the next growth cycle."

Coinbase is Shifting the World to an Open Financial System.

"Together we can stay focused on the long-term, and shift the world toward an open financial system."

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