Bitget CEO eyes $50,000 Bitcoin entry as $79,000 rally seen fragile

Bitget CEO Gracy Chen said Bitcoin's rebound above $79,000 may not hold, and she plans to buy more near $50,000. Bitcoin traded at $78,970, up 1.78 percent in 24 hours, as of 14:30 UTC, according to CryptoRank data.

"I wouldn't say whatever I predicted is that meaningful, but again it's just my personal thought around now," Chen told Cointelegraph's Trade Secrets. "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."

Chen, who became Bitget's CEO in 2024, keeps most of her personal portfolio in Bitcoin and the S&P 500, with Ethereum and Solana together making up less than 1 percent. She expects Bitcoin to finish the year $10,000 to $20,000 above or below current levels, citing interest rates and broader macro conditions as the key drivers.

Chen's caution runs against a week in which Bitcoin rose 23.5 percent to $77,559, lifting the total crypto market cap to $2.63 trillion, according to CoinMarketCap. Transform Ventures founder Michael Terpin expects Bitcoin to fall 66 percent from its October 2025 all-time high of $126,100 into the "40s," while Standard Chartered's Geoff Kendrick sees the token moving toward $126,000 before year-end, with the recovery accelerating after Oct. 6.

Diminishing Returns

Chen is skeptical Bitcoin reaches $1 million by 2030, a target backed by Coinbase's Brian Armstrong and Cathie Wood. She points to the shrinking ratio of cycle highs to cycle lows across Bitcoin's four-year cycles. "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 said.

Hyperliquid, Not Memecoins

Chen voiced support for Hyperliquid (HYPE), which traded at $77.99, down 3.66 percent, as of 14:30 UTC. She cited the possibility that CFTC chair Mike Selig could allow the protocol to enter regulated US markets. She was sharply critical of memecoins, saying too many investors have been burned and that "retails are not stupid."

What to Watch

Bitcoin's next test is resistance near $80,000, with support around $75,000. The rally has been driven largely by short liquidations, according to Kendrick, while spot Bitcoin ETF inflows have started to recover. The US debt pile crossed $40 trillion this week, and the annual cost of servicing it now trails only Social Security as the government's largest expense, a backdrop that has supported gold and crypto.

This article is for informational purposes only and does not constitute investment advice.