DWF Labs market maker managing partner predicts BTC to rise to $100 000 in the current market cycle

In his view, the short-term rise/fall of the asset rate after spot ETFs are approved is irrelevant

09.01.2024 - 08:08

429

2 min

What’s new? Andrei Grachev, the managing partner of market maker DWF Labs, has shared his own prediction regarding the impact of the launch of spot bitcoin exchange-traded funds (ETFs) in the United States on the asset’s exchange rate. In his opinion, the possible short-term rise or fall in value after the approval of such products by the securities regulator SEC does not matter, as it will reach the “magic” mark of $100 000 during the current market cycle.

Источник: Twitter.com

What else is known? The businessman said that he intends to focus on projects with a large audience, whose tokens are not yet listed on exchanges. In his opinion, in this case, one should pay attention to projects that are at the fundraising stage, or already operating companies that are just entering the crypto space.

The DWF head also tracks games and meme tokens, whose rates have not yet been rocked by the audience, and other projects with reliable fundamentals. At the same time, Grachev emphasized that his statement is not an investment recommendation.

Investor Chamath Palihapitiya calls 2024 the most important year for BTC

According to him, this will be facilitated by the approval of spot ETFs

Late last year, DWF participated in an $8 million funding round for decentralized data storage platform CESS, invested an additional $1,25 million in FLOKI meme tokens, and launched two validator nodes on the TON blockchain.

Author: