Andrew Kang, co-founder and partner of Mechanism Capital, said in a post that the most common mistake in the crypto market is to buy too early when the trend turns from up to down.。Adjustments after the collapse of large market structures tend to be deeper and longer than expected.。Don't buy when BTC is down 10% from the high, but buy for the next cycle when the market is generally liquidated, most people exit, and question whether the cryptocurrency will die forever.。In addition, he believes that more than 98% of altcoins have peaked in the current cycle, and only a few are likely to hit new highs in the fourth quarter of 2024 or the first quarter of 2025.。The main ones that could hit new highs are a few meme coins, but choose carefully。Kang also said that Bitcoin is in the transition phase to a hypercyclical asset, with both previous cyclical characteristics and the characteristics of mature macro assets.。