Bitget CEO Lowers Bitcoin Year-End Price Forecast to $70,000

Gracy Chen, the CEO of Bitget, has projected that the price of Bitcoin will maintain its current level by the end of the year. She analyzed that interest rates and macroeconomic conditions will impact Bitcoin's price. In a podcast with Cointelegraph on the 21st, Chen stated that it is difficult to predict whether Bitcoin will exceed $70,000 by year-end. She mentioned that purchasing Bitcoin requires more significant policy decisions than maintaining government assets and assessed the likelihood of the U.S. government starting a Bitcoin strategic reserve as low. Chen analyzed that Bitcoin's price is likely to fluctuate within a range of about $10,000 to $20,000 from its current price level. Additionally, she forecasted that the chances of the U.S. government beginning to purchase Bitcoin within the next two years are low. Currently, the U.S. government holds approximately 198,000 BTC, which corresponds to about 1% of the circulating supply and is valued at around $15.4 billion at current prices. Treasury Secretary Scott Benset has stated that the government will not directly purchase Bitcoin.

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