🚀📈 Bitcoin enthusiasts, buckle up! Andrew Kang, the brain behind Mechanism Capital, has some exciting predictions for us! He believes that a whopping 98% of altcoins have already reached their peak for this cycle. But hold on, it's not all doom and gloom! 🌈💰

Kang suggests that a select few coins might still hit new highs between late 2024 and early 2025. And guess what? Meme coins are likely to be the stars of the show! 🐕🚀

In a recent post, Kang pointed out a common pitfall in the crypto markets - buying too early when the trend shifts from upward to downward. He warns that corrections following significant market structure breaks are usually deeper and longer than expected. 📉🕰️

So, when do you buy? Kang advises, "You buy for the next cycle when everyone is liquidated, people leave the space, and the majority question whether crypto is dead forever." 💡💸

When asked about meme coins, Kang responded, "Memes probably constitute a majority of the coins that have a chance of making new highs." But remember, with hundreds of thousands of meme coins out there, you've got to be picky! 🧐🔍

In other news, all eyes are on the U.S. Securities and Exchange Commission (SEC) as we await their decision on the launch of spot Ethereum ETF trading. This could potentially trigger a new rally for ETH. 🎉📈

Lastly, Kang believes that Bitcoin is morphing into a "supercyclish asset," showing traits from previous cycles while increasingly behaving like a mature macro asset. So, BTC lovers, keep your spirits high and your eyes on the prize! 🏆🎯