Bitget CEO Gracy Chen says Bitcoin’s recent strength may not be enough to break it out of a relatively familiar trading band for the rest of the year. Speaking on Cointelegraph’s Trade Secrets podcast, Chen argued that macroeconomic conditions—especially interest-rate expectations—are likely to remain a major driver of the asset’s direction. Chen cautioned that forecasting whether Bitcoin finishes 2024 above or below the $70,000 level is inherently uncertain. Her base case, however, points to Bitcoin staying “around the same range,” with a wide but defined margin of error. Key takeaways Chen expects Bitcoin to trade broadly near current levels through year-end, citing interest-rate and macroeconomic uncertainty. Higher interest rates could theoretically weigh on prices, reflecting Bitcoin’s growing linkage to traditional finance. She described a “more responsible” forecast: Bitcoin could end the year roughly $10,000 to $20,000 above or below current levels. Chen is skeptical t...
Billionaire investor Ray Dalio has renewed his call to buy Bitcoin and gold. He made the remarks as U.S. national debt crossed $40 trillion this week. Bitcoin, meanwhile, climbed toward $80,000 for the first time since May. Dalio Pushes Diversification Beyond Bonds Dalio shared his advice in a post on social media platform X. He told investors to diversify across asset classes and countries with strong balance sheets. He also urged them to avoid nations facing serious political or geopolitical conflict. The investor advised underweighting debt-based assets such as bonds. He recommended overweighting gold and holding a smaller allocation to Bitcoin instead. According to Dalio, this mix helps balance risk during periods of rising government debt. He added that holding between 10% and 15% of a portfolio in gold lowers overall risk. This guidance builds on views Dalio has expressed for years. His latest comments arrive as debt concerns intensify across financial markets. Bitcoin Rallies as...