[Digital Today reporter Yoonseo Lee] Bitget CEO Gracy Chen (그레이시 첸) said she does not see the recent rebound in bitcoin as a signal that the bear market is over and views around $50,000 as her personal re-entry price.

Cointelegraph, a blockchain media outlet, reported on Aug. 24 that Chen left open the possibility of further declines even after bitcoin rose to $79,000 and that she holds a significant portion of her portfolio in stablecoins.

Chen said she could raise her bitcoin allocation again if it falls more than $25,000 from current levels. She did not specify when bitcoin might reach $50,000, but forecast it could be in the second half of this year or early next year. She also left open the possibility that it could rise by about $20,000 from current levels by year-end.

Chen is not alone in keeping distance from optimism. Bitcoin has risen more than 20 percent over the past week, but views expecting further declines persist. Michael Terpin (마이클 터핀), founder of Transform Ventures, said earlier this month that bitcoin could slide about 66 percent from its all-time high of $126,100 set in October 2025. Veteran trader Peter Brandt (피터 브랜트) has also cited Oct. 4 as the date of bitcoin's sharp drop ahead of this week's rebound.

That stance is also reflected in asset allocation. Chen said she allocates most of her portfolio to bitcoin and the S&P 500. As she runs a major exchange, she does not trade directly often, and she estimated her allocations to ether and solana at less than 1 percent each. She also said she does not have a strong preference for altcoins overall.

She gave a positive assessment of Hyperliquid and its native token HYPE. Chen said HYPE rose sharply thanks to a pro-crypto policy environment. She also said additional upside momentum could emerge if the U.S. Commodity Futures Trading Commission allows Hyperliquid to enter the U.S. market. U.S. President Donald Trump this week suggested that CFTC commissioner Mike Selick (마이크 셀릭) is pushing a plan to allow Hyperliquid to trade in the U.S. regulated market.

By contrast, she showed strong aversion to memecoins. Chen forecast that the memecoin frenzy seen in previous cycles may not be repeated as investor losses have accumulated. She sees retail investors as unlikely to move in the same way as before.

She also took a cautious stance on bitcoin's long-term target price. Chen said she is skeptical of a scenario in which bitcoin reaches $1 million around 2030, citing that returns have been declining as the four-year cycle repeats. She said past patterns show the gap between each cycle's peak and trough has continued to narrow.

Chen's remarks show she is choosing a strategy of keeping cash-like assets and preparing for price adjustments rather than aggressively chasing the rally even during the recent rebound. The future path of bitcoin prices is expected to hinge not only on whether the short-term uptrend continues but also on what price levels see buying flow back in from institutions and market participants during any pullback.