TechFlow news: Andrew Kang, co-founder and partner at Mechanism Capital, said the most common mistake in the crypto market is buying too early when a trend shifts from rising to falling. He noted that corrections following a major market structure breakdown tend to be deeper and longer than expected.
Kang advises against buying when BTC drops 10% from its peak. Instead, he suggests positioning for the next cycle when there's widespread liquidation, many participants have exited, and people are questioning whether cryptocurrencies will ever recover.
He believes over 98% of altcoins have already peaked in this cycle, with only a few likely to reach new highs in Q4 2024 or Q1 2025. Bitcoin is transitioning into a super-cycle asset, exhibiting characteristics of both previous cycle behavior and mature macro assets. Kang also mentioned that among potential new high-makers, memecoins may stand out, but investors should exercise caution in selection.
