According to ChainCatcher, Andrew Kang, co-founder and partner of Mechanism Capital, posted on a social platform that the most common mistake in the crypto market is to buy too early when the trend turns from rising to falling. Adjustments after the collapse of a large market structure are often deeper and longer than expected.
Don’t buy BTC when it’s down 10% from its highs, buy for the next cycle when the market is generally liquidating and most people are exiting, questioning whether crypto is dead forever.
In addition, he believes that more than 98% of altcoins have peaked in this cycle, and only a few may hit new highs in the fourth quarter of 2024 or the first quarter of 2025. It is mainly a few meme coins that may hit new highs, but they need to be selected with caution.
Kang also said that Bitcoin is in the transition stage to a super-cyclical asset, combining the characteristics of previous cycles with the characteristics of mature macro assets.
