Bitget CEO "Altcoin season won't come until next year…Recovery needs time"

Doohyun Hwang

Summary

Gracy Chen, Bitget CEO, said the altcoin season will not come even in 2025 or 2026.
She pointed out that the recent crypto market crash and reduced venture capital investment have increased altcoin investment risk.
She said the market is not at a peak, and expanding family office allocations to Bitcoin is a reasonable judgment.

Gracy Chen(Gracy Chen) Bitget(Bitget) chief executive officer(CEO) issued a blunt diagnosis that "the altcoin season will not come even in 2025 or 2026."

On the 23rd (local time), Chen said on her X, "Since last year, venture capital (VC) firms have begun to pull back from investing in web3 projects, and now that trend has become much clearer."

He pointed out, "In particular, the crypto market crash that occurred on the 11th dealt a fatal blow to altcoins," and "the risk-reward ratio that individual investors have to accept in altcoin trading is currently very poor."

He added, "Real-world-based infrastructure projects such as stablecoins, real-world asset tokens (RWA), and payment infrastructure can be exceptions," but "these kinds of projects are generally likely not to even issue tokens."

Regarding current market strategy, Chen said, "Now is neither a time to 'buy without thinking' nor a time to 'sell without thinking,'" and advised, "Market peaks come in overheated greed, not fear." He also assessed, "Some family offices are showing moves to allocate 5~20% of assets to Bitcoin (BTC), and that is a reasonable judgment."

He continued, "Since October 11, the market is still in the recovery phase. Weekly trading volumes at major exchanges have decreased by 20~40%, and some large market makers have been liquidated due to leverage expansion," adding, "The current market is in a stage of doubt. Abandon the illusion of seeking short-term wealth, and above all, it is important to remain in the market."