Mechanism Capital co-founder: Over 98% of altcoins have peaked in this cycle

ChainCatcher news, Andrew Kang, co-founder and partner of Mechanism Capital, stated on social media that the most common mistake in the crypto market is buying too early when the trend shifts from upward to downward. Adjustments after a major market structure collapse are often deeper and longer than expected.

Do not buy when BTC drops 10% from its high; instead, buy for the next cycle when the market is generally liquidated, most people are exiting, and there are doubts about whether cryptocurrencies will disappear forever.

Additionally, he believes that over 98% of altcoins have peaked in this cycle, with only a few potentially reaching new highs in the fourth quarter of 2024 or the first quarter of 2025. The ones that may reach new highs are primarily a few Meme coins, but careful selection is necessary.

Kang also stated that Bitcoin is in a transition phase towards becoming a super-cycle asset, possessing characteristics of both previous cycles and mature macro assets.