Bitget CEO Gracy Chen remains unconvinced that Bitcoin's recent rally to $79,000 signals the permanent end of the bear market. Speaking on the Trade Secrets show, Chen revealed that she is keeping a significant portion of her portfolio in stablecoins and watching for a deeper correction.
"I would say $50K is the number that I’m looking at for my personal Bitcoin buyback sort of price," Chen said, noting she does not have a specific month or date in mind, though later this year or next year might be a possibility. At the same time, she acknowledged that unpredictable market movements could also push Bitcoin higher by the end of the year.
Chen joins other voices anticipating a potential market downturn. Transform Ventures founder Michael Terpin previously noted expectations for further market pain, while veteran trader Peter Brandt also projected a potential price bottom earlier in the cycle.
Portfolio Strategy and Views on Altcoins
Despite managing a major cryptocurrency exchange, Chen maintains a conservative personal portfolio. Most of her holdings are allocated to Bitcoin and the S&P 500, with less than 1% held in Ethereum and Solana.
However, Chen expressed interest in Hyperliquid, noting optimism if regulatory pathways allow it to enter the US market properly. Conversely, she expressed strong skepticism toward memecoins, predicting that retail investors are unlikely to fuel another memecoin season on the scale of previous cycles after being burned.
Doubtful on Long-Term Million-Dollar Target
Addressing long-term price projections, Chen expressed doubt that Bitcoin will reach $1 million by 2030. She pointed to Bitcoin's diminishing returns across consecutive four-year cycles, noting that the ratio between each cycle's all-time high and all-time low continues to decrease.
