Although cryptocurrency investors generally start buying immediately when the trend changes from rising to falling, the renowned analyst Andrew Kang, managing billions of dollars, holds a contrasting viewpoint. Kang emphasizes the importance of timing in the market and suggests strategic approaches for investors and traders.
According to Kang, market corrections are often prolonged and more severe than anticipated. He advises investors to consider buying not during a mere decline, but when sentiments have bottomed out, weaker participants have exited the market, and pessimism prevails. This contrarian approach may present opportunities to accumulate Bitcoin and altcoins when most have lost faith.
In light of recent developments, Kang suggests that a majority of altcoins have likely peaked in their market cycles. He estimates that over 98% of altcoins have reached cycle highs, indicating a potential shift in the market landscape. Kang predicts that only a select few altcoins could witness new highs in the coming quarters, particularly in late 2024 or early 2025.
Furthermore, Kang observes a unique potential in memecoins, highlighting their propensity to attain new peaks despite volatility and speculation. He advises caution and selectivity when considering memecoins, as not all may experience significant growth.
In a recent tweet, Kang shared his insights on the market trends, stating, “I believe 98%+ of altcoins topped for the cycle except for maybe a handful of coins that may make some new highs in Q4 2024/Q1 2025. Bitcoin I think is in some transition stage to a supercyclical asset where it retains both properties from previous cycle behavior and also…”
It is important to note that these observations and predictions are not intended as investment advice, but rather as insights into the evolving landscape of cryptocurrency markets. Investors and traders are encouraged to conduct their own research and analysis before making any financial decisions in the crypto space.
