Cryptocurrency market continues to perform poorly. Andrew Kang, Co-founder and Partner at Mechanism Capital, stated today that he believes over 98% of altcoins have peaked in this cycle, with only a few having the potential to reach new highs in the fourth quarter of 2024 or the first quarter of 2025. He also noted that Bitcoin may drop back to $40,000.
Mechanism Capital 98 of Altcoins Have Peaked This Cycle Bitcoin Could Drop Below 40000 Caution Advised on Early Bargain Hunting
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Mechanism Capital 98 of Altcoins Have Peaked This Cycle Bitcoin Could Drop Below 40000 Caution Advised on Early Bargain Hunting