Andrew Kang, co-founder and partner at Mechanism Capital, said in a post that the most common mistake in the crypto market is to buy too early when the trend turns from up to down. The correction after the collapse of the large market structure is often deeper and longer than expected.
Don't buy when BTC is down 10% at its higher point, but buy for the next cycle when the market is generally liquidated, the majority exits, and questions whether cryptocurrencies are dead forever.
In addition, he believes that more than 98% of counterfeit products have peaked in the current cycle, and only a few are likely to make new highs in the fourth quarter of 2024 or Quarter 1 of 2025. It is mainly a few Meme coins that may make new highs, but choose carefully.
Kang also said that bitcoin is in the transition stage to a super-cyclical asset, combining the characteristics of previous cycles with those of mature macro assets.
Mechanism Capital: More than 98% counterfeit products have peaked in this cycle
2024-07-07 14:31:21
Mechanism capital alliance founder partner andrew kang said in a postdesk3cryptocurrencydesktopCrypto News
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