Bitget CEO Gracy Chen Warns of a Bear Market! Here are the Details

Although there are signs of recovery in the cryptocurrency market, warnings continue that the bear market is far from over. Gracy Chen, CEO of global cryptocurrency exchange Bitget, stated that liquidity in the markets has not yet fully recovered and that it is too early to say that the bear market for Bitcoin is over.

Chen, in his assessment on the social media platform X, stated that Bitcoin’s rise back to the $74,000 level has raised the question among investors: “Should we buy now?” However, according to Chen, investors should approach the current price levels cautiously.

The Bitget CEO recalled previously stating that he considered the $60,000 to $70,000 range for Bitcoin to be a suitable area for a staggered buying strategy. This strategy is known as dollar cost averaging (DCA), where investors reduce their average cost by making fixed purchases at regular intervals.

However, Chen emphasized that this price range was not suitable for putting all capital into the market. Sharing his own investment approach, Chen stated that he personally planned to invest “all his capital” if the Bitcoin price fell below $50,000.

Chen also warned investors to be prepared for potential price fluctuations. He said that the price could drop by 20 to 30 percent after buying Bitcoin, but that this is not unusual in the crypto markets.

Finally, Chen emphasized the importance of self-research (DYOR), stating that investors should not blindly trust the opinions of others when making decisions. According to experts, such warnings once again highlight the need for investors to carefully consider the high volatility in the crypto markets.

*This is not investment advice.