Renowned analyst Andrew Kang has shared his insights on the ideal time to buy Bitcoin and his predictions for the altcoin rally. Kang, who manages billions of dollars, suggests that investors should not buy immediately when the market starts to decline, contrary to popular belief. Instead, he advises buying when the market is at its lowest point, when weaker investors have left and everyone else is bearish.
According to Kang, the majority of altcoins have already reached their peak in the market cycle. He believes that over 98% of altcoins have reached their cycle highs and predicts that only a small portion of them will reach new highs in the fourth quarter of 2024 or the first quarter of 2025.
Kang also notes that Bitcoin is currently going through a transition phase and argues that it is becoming a more mature macro asset. He highlights that memecoins, despite their volatility and speculative nature, have unique potential and are likely to break new records. However, he cautions investors to be selective when investing in memecoins, as only a few of them will reach new peaks.
In a recent tweet, Kang further emphasized his views, stating that he believes over 98% of altcoins have topped for the cycle, with only a handful of coins potentially making new highs in the coming quarters.
It is important to note that Kang’s opinions should not be considered as investment advice. Investors looking to invest in cryptocurrencies can register with Binance exchange, which offers a 20% commission discount.
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