Bitget CEO Says Bitcoin Rally May Be Hard to Sustain, Would Buy More at $50,000

Gracy Chen, chief executive officer of Bitget, said Bitcoin’s rebound to about $79,000 does not necessarily signal the end of the bear market and that she would consider buying more if it falls toward $50,000.

Cointelegraph reported on August 24 that Chen made the remarks in a recent interview with Trade Secrets, saying she is personally watching $50,000 as a level to buy Bitcoin again.

Chen said she currently keeps a significant portion of her investment portfolio in stablecoins, reflecting the possibility that Bitcoin could drop more than $25,000 from current levels.

She did not say Bitcoin is certain to fall to $50,000. Chen said she does not have a specific date or month in mind for when it might reach that level, adding that it could happen by the end of this year or next year. She also said Bitcoin could climb about $20,000 further from current levels by year-end.

Chen also struck a cautious tone on Bitcoin’s long-term outlook. Citing a pattern of diminishing gains from cycle lows to cycle highs over the historical four-year cycle, she said she is skeptical Bitcoin will reach $1 million by 2030.

She said altcoins account for only a small share of her portfolio. Most of her holdings are in Bitcoin and the S&P 500, while Ethereum and Solana together make up less than 1%. She was positive on Hyperliquid, citing the possibility that it could enter the regulated US market.