Bitget CEO Gracy Chen isn’t convinced that Bitcoin’s recent rally to $79,000 marks the end of the bear market.
She is keeping a significant portion of her portfolio in stablecoins and watching for a drop of more than $25,000 from current prices as a potential level to buy back into Bitcoin. “I would say $50K is the number that I’m looking at for my personal Bitcoin buyback sort of price,” Chen tells the Trade Secrets show.
That being said, Chen isn’t claiming to have any special insight into where Bitcoin’s notoriously unpredictable price is headed. She also thinks its possible Bitcoin could end the year $20,000 higher.
“I’m just an exchange CEO,” Chen laughs. “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 adds.
Chen is also far from alone in expecting Bitcoin to potentially move lower, despite Bitcoin being up more than 20% in the past week.
Transform Ventures founder Michael Terpin told Trade Secrets at the beginning of August that “we still have more pain to go.” Terpin believes that Bitcoin will ultimately fall “66%” from its October 2025 all-time high of $126,100. “I think that brings us down into the 40s, and I think that’s about where we’re gonna go,” Terpin says.
Before this week’s rally, veteran trader Peter Brandt also tipped Bitcoin’s price to reach a bottom on Oct. 4.
Chen isn’t putting a firm date on Bitcoin’s potential move to $50,000, she just believes it’s likely:
“I wouldn’t say whatever I predicted is that meaningful, but again it’s just my personal sort of thought around now. I don’t have a particular date or month in mind for when I think Bitcoin could hit $50,000. Later this year might be a good estimate, or maybe next year.”
While Chen is humble enough to describe herself as “just an exchange CEO,” that really undersells what she has accomplished over her 36 years.
Who is Gracy Chen?
Chen first studied Applied Mathematics at the National University of Singapore before earning an MBA from MIT Sloan School of Management.
But her career did not begin in business — unless show business counts. In 2014, she joined Phoenix TV as a host and producer, where she began attending financial events and interviewing technology and business leaders, experiences that would eventually lead her toward entrepreneurship.
Over the next few years, Chen founded two companies. The first was Accumulous, which provided platform-as-a-service solutions for businesses in China, covering areas including labor subcontracting and income settlement. In 2017, she went on to launch ReigVR.
Chen became interested in crypto after a meeting with billionaire Bitcoin investor Tim Draper and his crypto team.
This led her to begin in crypto marketing roles, before ultimately becoming the managing director of Bitget in 2022 and then taking on the CEO role in 2024.
Gracy Chen is not interested in altcoins
Despite running a crypto exchange with many different tokens, Chen is not particularly enamoured with altcoins. “Most of my portfolio is in either Bitcoin or the S&P 500. I don’t trade that much because of my busy schedule running a large exchange,” Chen says.
Chen estimates that “less than 1%” of her portfolio is in Ethereum and Solana.
There is one altcoin that she has been excited about, however. “I do like Hyperliquid, and I think HYPE also went up a lot…because of the more crypto-friendly policy towards them. So that’s probably one coin that I’m bullish on right now, especially if CFTC really finds a way to let Hyperliquid enter the US market properly,” Chen says. President Trump this week indicated that the CFTC chair Mike Selig was working on allowing Hyperliquid to officially trade in regulated US markets.
Chen is not shy about her hatred for memecoins and is fairly confident that we won’t see another memecoin season like in previous cycles, because too many investors have been burned. “Retails are not stupid,” Chen says.
Gracy Chen does not believe Bitcoin will reach $1M by 2030
Chen also doubts Bitcoin can reach $1 million by 2030, a question that has become a recurring topic on Trade Secrets. Markus Thielen recently told the show that the target looks unlikely, despite bullish calls from Brian Armstrong and Cathie Wood.
Chen points to Bitcoin’s diminishing returns across its four-year cycles as a key reason.
“The reason being if you look at the past four-year Bitcoin cycles, the ratio of the all-time high in that cycle to the all-time low in that cycle keeps decreasing,” she says.
