Bitget CEO Gracy Chen Sees $50K as Reasonable Target for Bitcoin Buyback

Bitget CEO Gracy Chen is not convinced that the recent rally to $79,000 marks the end of the bear market. Despite Bitcoin's notable price increase, she believes it's more likely to drop than continue rising.

Chen has a significant portion of her portfolio in stablecoins and is waiting for a drop of over 25% from current prices before considering buying back into Bitcoin. She estimates that this would put the price at around $50,000, which she considers a reasonable target for her personal buyback strategy.

Chen's views are shared by Transform Ventures founder Michael Terpin, who believes that Bitcoin will ultimately fall 66% from its all-time high of $126,100. This would put the price at around $40,000, according to Terpin.