By cryptoadmin As declines in the leading cryptocurrency Bitcoin deepened, the price fell below $70,000 for the first time in almost 15 months since November 2024.
While Bitcoin is in a bear market and the decline is predicted to continue, the founder of DWF Labs claims that the bear market is over.
Andrei Grachev, co-founder and CEO of cryptocurrency market maker DWF Labs, stated in a post on his X account that the cryptocurrency market is approaching its bottom.
Grachev, who predicted that BTC could fall by approximately another 15% in the short term and even below $70,000, foresaw that the overall downtrend cycle was nearing its end.
Grachev, reminding that approaching the bottom does not necessarily mean an uptrend, stated that there will be more capital inflows into the market.
“Looking at the market seriously, I think we’re already nearing the bottom. There will probably be around 15% more volatility around the current Bitcoin price.”
However, the bottom doesn’t automatically mean it will turn into a bull market.”
According to Grachev, professional investors and venture capitalists are still actively investing and focusing on infrastructure, Real World Asset (RWA) tokenization, and projects with a long-term vision.
He added that most altcoins would disappear following the current bear market, but altcoin projects that deliver tangible results and focus on business development would grow along with the market.
Grachev added that he remains optimistic about the long-term growth of the crypto sector.
*This is not investment advice.