Bitcoin Rally May Be a Trap: Bitget CEO Awaits $50K Entry Point

Bitget's CEO Gracy Chen is not convinced that Bitcoin's recent climb above $79,000 signals the end of the bear market. She believes Bitcoin may drop to around $50,000 before adding to her personal holdings.

Chen says she doesn't have a specific date in mind for this potential drop, but thinks it could happen later this year or early 2027. This would be a decline of more than $25,000 from current prices.

She is not alone in this view, as Transform Ventures founder Michael Terpin has predicted a potential price bottom around the same range. Veteran trader Peter Brandt has also flagged a potential price bottom for Bitcoin.