Bitget CEO isn’t buying the Bitcoin rally — She’s waiting for $50K

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.Gracy Chen isn’t expecting Bitcoin to be up only from here. (CoinMarketCap)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%...