Key Points:
- Bitget CEO Gracy Chen is watching $50,000 as a potential Bitcoin buyback level, despite BTC recently rallying to about $79,000.
- Chen remains cautious on the broader market, keeping significant stablecoin exposure and saying she does not believe the latest rally necessarily marks the end of the bear market.
- She also questions the likelihood of Bitcoin reaching $1 million by 2030, citing diminishing returns across successive four-year market cycles.
Bitcoin’s latest rebound has not persuaded Bitget CEO Gracy Chen that the cryptocurrency’s bear market is over. Despite a rally of more than 20% in a week and a move toward $79,000, Chen is keeping a substantial portion of her portfolio in stablecoins and waiting for a deeper correction before considering another major Bitcoin purchase.
Her preferred level is around $50,000, although she stresses that the target is a personal view rather than a formal price forecast. The stance highlights the divide among investors as Bitcoin attempts to establish whether its recent recovery represents a durable trend reversal or another phase within a broader correction.
Bitcoin Rally Faces Skeptical Investors
Chen told the Trade Secrets show that she would consider buying Bitcoin again around $50,000, potentially later in 2026 or early 2027. She declined to assign a specific date to such a move.
The approach reflects caution after Bitcoin’s sharp decline from its October 2025 record high of $126,100. Chen also acknowledged that Bitcoin could finish the year roughly $20,000 above current levels, underscoring the uncertainty surrounding short-term price predictions.
Other market participants have similarly warned that Bitcoin could face additional downside. Transform Ventures founder Michael Terpin has argued that the cryptocurrency could eventually decline 66% from its previous record, potentially pushing it into the $40,000 range. Veteran trader Peter Brandt has also identified October as a possible period for a final market bottom.
These forecasts contrast with the recent strength in Bitcoin and demonstrate how divided sentiment remains even after a substantial rebound.
Chen Favors Bitcoin Over Most Altcoins
Chen’s personal portfolio is concentrated in Bitcoin and the S&P 500, while her exposure to Ethereum and Solana is estimated at less than 1%.
Her selective approach is notable given her position at Bitget, where users can trade a broad range of digital assets. Chen said her busy schedule running the exchange also limits how actively she trades.
One exception is Hyperliquid’s HYPE token, which she views positively. Chen cited the possibility of a more crypto-friendly US regulatory environment allowing Hyperliquid to gain access to regulated US markets.
She is considerably less optimistic about memecoins, arguing that retail investors have already suffered enough losses in previous speculative cycles to make another broad-based memecoin boom less likely.
Diminishing Returns Challenge $1 Million Bitcoin Target
Chen is also skeptical of forecasts that Bitcoin could reach $1 million by 2030. Her reasoning centers on the declining magnitude of Bitcoin’s gains across successive four-year market cycles.
The ratio between each cycle’s high and low has progressively narrowed, according to Chen, suggesting that extrapolating the enormous returns of Bitcoin’s earlier years may no longer be appropriate.
The argument adds a structural dimension to her cautious market view. Rather than assuming Bitcoin will continue generating the outsized percentage gains seen during its earlier adoption phases, Chen believes investors should account for the asset’s increasing size and maturation.
That view puts her at odds with more aggressive long-term forecasts from prominent industry figures, while reinforcing the broader debate over how Bitcoin’s market cycles may evolve as institutional participation grows.
Investor Positioning Remains Divided
Chen’s strategy illustrates the difficulty of interpreting Bitcoin’s latest rebound. A strong weekly advance can improve market sentiment and encourage investors who were waiting for confirmation to re-enter, but it can also create conditions for profit-taking if traders continue to view the move as part of a broader bear-market recovery.
Her decision to maintain stablecoin exposure while waiting for lower prices represents a defensive approach rather than a rejection of Bitcoin as an asset.
For the market, the key question is whether Bitcoin can sustain its recovery and invalidate expectations of another deep correction. If momentum continues, investors waiting near $50,000 could face a higher re-entry cost. If macroeconomic pressures, liquidity conditions or market positioning trigger another selloff, Chen’s preferred level could become a more relevant test of underlying demand.
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