Bitget CEO Gracy Chen remains skeptical that Bitcoin’s latest rally represents the beginning of a lasting bull market. While BTC recently climbed toward $79,000, Chen says she is keeping a meaningful portion of her portfolio in stablecoins and would consider buying Bitcoin again if the price falls toward $50,000.
Speaking on the Trade Secrets show, Chen described $50,000 as her personal target for a potential Bitcoin re-entry. She emphasized that the level is her own view rather than a firm market forecast, and she does not have a specific date for when such a decline might occur.
“$50K is the number that I’m looking at for my personal Bitcoin buyback.”
Chen also acknowledged that Bitcoin could take a different path. She said the cryptocurrency could potentially finish the year around $20,000 above current levels, underscoring the uncertainty surrounding short-term price predictions.
“I’m just an exchange CEO,” Chen said, noting that her expertise is running a trading platform rather than predicting Bitcoin’s price.
Other Analysts Expect More Downside
Chen’s cautious outlook comes despite Bitcoin gaining more than 20% over the past week.
She is not alone in anticipating another potential decline. Transform Ventures founder Michael Terpin has previously argued that the market could experience additional weakness before the next major bullish cycle.
Terpin has suggested that Bitcoin could eventually decline by roughly 66% from its October 2025 record near $126,100, potentially pushing the cryptocurrency into the $40,000 range.
Veteran trader Peter Brandt has also previously pointed to October as a potential period for Bitcoin to establish a cycle bottom.
Chen, however, is avoiding a precise timeline for her $50,000 thesis. She said the move could occur later this year or potentially sometime in 2027.
Who Is Gracy Chen?
Chen’s career extends well beyond cryptocurrency.
She studied Applied Mathematics at the National University of Singapore before completing an MBA at MIT Sloan School of Management.
Her professional career initially took a media-oriented path. In 2014, she joined Phoenix TV as a host and producer, where she attended financial events and interviewed business and technology figures.
She later moved into entrepreneurship, founding Accumulous, a platform-as-a-service company serving businesses in China, and subsequently launching ReigVR in 2017.
Chen’s interest in cryptocurrency grew after meeting billionaire investor Tim Draper and members of his crypto team. She subsequently moved into crypto-focused marketing roles before joining Bitget as managing director in 2022.
She became the exchange’s CEO in 2024.
Chen Remains Selective on Altcoins
Despite leading a major cryptocurrency exchange offering exposure to numerous digital assets, Chen says most of her personal portfolio is concentrated in Bitcoin and the S&P 500.
She also says she does relatively little active trading because of the demands of running a large exchange. Ethereum and Solana reportedly account for less than 1% of her portfolio.
One alternative cryptocurrency has caught her attention: Hyperliquid’s HYPE token.
Chen said she remains positive on HYPE, particularly because of developments surrounding the project’s potential access to the U.S. market. She pointed to the possibility of greater regulatory acceptance as a potential catalyst.
However, Chen remains strongly critical of memecoins. She does not expect another major memecoin-driven cycle to resemble previous market booms, arguing that many retail investors have already suffered significant losses from speculative tokens.
Why Chen Doubts the $1 Million Bitcoin Forecast
Chen is also skeptical of predictions that Bitcoin will reach $1 million by 2030.
The long-term target has become a recurring debate among crypto analysts and industry executives, with some prominent figures maintaining extremely bullish forecasts.
Chen’s argument is based largely on Bitcoin’s historical four-year market cycles. She believes the cryptocurrency’s returns have diminished from one cycle to the next, making another exponential increase increasingly difficult.
Her reasoning focuses on the declining ratio between each cycle’s all-time high and its preceding low. If that pattern continues, Chen believes Bitcoin may struggle to reach the kind of valuation required for a $1 million price within the next few years.
A Contrarian View Amid Renewed Bitcoin Optimism
Chen’s $50,000 target stands in sharp contrast to the renewed optimism surrounding Bitcoin following its latest rally.
Rather than chasing the momentum, she is maintaining liquidity and waiting for a potentially deeper correction before increasing her exposure.
Whether Bitcoin eventually revisits $50,000 or continues higher remains uncertain. For Chen, the strategy is less about predicting the exact market bottom and more about being prepared to act if a significant decline creates what she considers a more attractive entry point.
