Bitget CEO Gracy Chen Sees $50K as Potential Buyback Point for Bitcoin

Gracy Chen, CEO of Bitget, doesn't think the recent Bitcoin rally to $79,000 marks the end of the bear market. According to her, she's waiting for a drop of more than $25,000 from current prices as a potential level to buy back into Bitcoin. Chen believes that $50,000 is the number she's looking at for her personal Bitcoin buyback.

Chen isn't claiming any special insight into where Bitcoin's price is headed and acknowledges that it could potentially move lower despite being up over 20% in the past week. She points out that other experts also expect a potential downturn, with Transform Ventures founder Michael Terpin predicting a 66% drop from Bitcoin's October 2025 all-time high of $126,100.

Chen is not alone in her skepticism about Bitcoin reaching new heights, with veteran trader Peter Brandt tipping its price to reach a bottom on Oct. 4 before the recent rally. She also doubts that Bitcoin can reach $1 million by 2030, citing diminishing returns across its four-year cycles.