According to Odaily, Andrew Kang, the co-founder and partner of Mechanism Capital, has shared his insights on common mistakes in the crypto market and predictions for the future. Kang pointed out that one of the most frequent errors made by investors is buying too early when the market trend shifts from rising to falling. He advised against buying when Bitcoin drops by 10% from a high point. Instead, he suggested waiting for a widespread market liquidation, when most people exit and question whether cryptocurrencies will disappear forever, to buy for the next cycle.
Kang also expressed his belief that over 98% of altcoins have peaked in the current cycle, with only a few potentially reaching new highs in the fourth quarter of 2024 or the first quarter of 2025. He indicated that these could primarily be a select few Meme coins, but cautioned investors to be selective.
Furthermore, Kang stated that Bitcoin is transitioning into a supercycle asset, possessing characteristics of both previous cycles and mature macro assets. He did not elaborate on what these characteristics are or how they might impact the future performance of Bitcoin. This transition, according to Kang, could potentially influence the overall dynamics of the crypto market.