Andrew Kang: "Altcoins have topped out, except for some memes"

As Andrew Kang, co-founder of crypto investment firm Mechanism Capital, recently told X, "A common mistake crypto investors make is buying too quickly when an uptrend turns down. The correction is longer and deeper than most people expect. When the majority are liquidating and questioning that crypto is dead, you should buy for the next cycle. I personally believe that more than 98% of altcoins have peaked, except for a handful of coins that will make new highs in the fourth quarter of this year and the first quarter of next year. The coins that have a chance at new highs are mostly memecoins. I think Bitcoin is in the process of transitioning to a supercycle asset that has both previous cycle patterns and more mature macro asset attributes."