Bitget CEO Gracy Chen remains skeptical of Bitcoin’s recent surge to $79,000, suggesting the cryptocurrency may not have exited its bear phase. Chen, who holds a significant portion of her portfolio in stablecoins, has set a personal target of $50,000 as a potential entry point for re-entering Bitcoin positions.
Speaking on the Trade Secrets show, Chen emphasized that her view is not based on proprietary insight. “I’m just an exchange CEO,” she said. “We are not good at analyzing Bitcoin price. We’re just good at providing a trading platform for all the analysts and traders to trade.” She added that Bitcoin could still end the year $20,000 higher, though she does not expect an uninterrupted upward trajectory.
Her cautious stance aligns with broader market sentiment. Transform Ventures founder Michael Terpin recently predicted Bitcoin could decline another 66% from its October 2025 all-time high of $126,100, potentially pushing prices into the $40,000 range. Veteran trader Peter Brandt had also forecast a bottom on Oct. 4, prior to this week’s rally.
Chen did not specify a timeline for Bitcoin to reach $50,000, describing her estimate as a personal perspective rather than a firm prediction. “Later this year might be a good estimate, or maybe next year,” she noted.
Beyond her market outlook, Chen’s career spans finance, media, and entrepreneurship. After studying Applied Mathematics at the National University of Singapore and earning an MBA from MIT Sloan, she began in show business as a host and producer for Phoenix TV. Her transition into crypto was catalyzed by a meeting with billionaire investor Tim Draper, leading to roles in crypto marketing before joining Bitget in 2022 and becoming CEO in 2024.
Despite overseeing an exchange offering multiple tokens, Chen allocates less than 1% of her portfolio to altcoins like Ethereum and Solana. Her focus remains on Bitcoin and traditional equities such as the S&P 500. The exception is Hyperliquid, a decentralized exchange she favors due to its alignment with crypto-friendly policies. She expressed optimism about Hyperliquid’s potential entry into U.S. regulated markets, citing recent signals from the CFTC.
Chen also dismissed the prospect of Bitcoin reaching $1 million by 2030, citing diminishing returns across Bitcoin’s four-year cycles. “The ratio of the all-time high in that cycle to the all-time low in that cycle keeps decreasing,” she said. She further criticized memecoins, arguing that retail investors have learned from past cycles and are unlikely to repeat the same mistakes.
