Odaily Planet Daily News Mechanism Capital co-founder Andrew Kang wrote on X: "I began to realize that this is the first cycle and complete bull market that many cryptocurrency investors have experienced. Throughout the bull market, BTC's multi-day decline was very limited, limited to less than 20%, and many people seemed to have accumulated holdings in the last pullback in April. However, in the last cycle, the market often carried out leverage cleanup, resulting in a 30% to 60% retracement, evaporating hundreds of billions of dollars in total. Different cycles, different paradigms, but when people are too comfortable and believe that something is impossible, it is usually when disaster strikes. Although I am bearish, this is not to tell you to short the market or sell everything in the market. Be sure to pay attention to your risks and don't bet all your bets on a single transaction. If our volatility is greater than expected, you may suffer huge losses." He added: "The current market environment reminds me of May 2021, not June 2021, let alone December 2020. We were used to only going up and we were racing to buy the bottom. We had a big correction from $64K to $45K, but everyone was expecting a bounce. But the bottom was all the way down. We held out hope; more retail investors were coming, $40K was strong support, super cycle, etc. The same is true in the current environment. It’s all 9-10 months after the bullish momentum started. Except this time it’s the Ethereum ETF, and the legendary trader is bullish. I believe GCR’s time frame is correct on a multi-year timeframe, and we will see new highs for BTC in 2025 (but not all altcoins). This doesn’t mean the market won’t go through extreme corrections on a few months timeframe. The market will teach you after all.”
