Andrew Kang: Still expecting strong returns in the altcoin space
Andrew Kang, co-founder and partner of Mechanism Capital, a cryptocurrency venture capital firm, stated in a post that over the past few months, almost all currency pairs except Bitcoin have experienced significant gains. He predicts that BTC/ETH will mainly fluctuate within a range in the coming weeks, as institutionalization of major currencies will continue to compress volatility.
I still expect there to be considerable returns in the realm of altcoins, but mainly limited to Memecoins, as the rate of new funds entering the crypto market slows. At this stage, I expect the older generation of crypto natives to invest more in Memecoins, as many will no longer be comfortable profiting in all bullish markets. For those who do not participate, the biggest risk is the rise of Memecoins and the fall of other altcoins. Nothing can inspire people to accept new trends more than obvious liquidity loss.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
You may also like
Crypto Analyst Shares Bullish Outlook on Solana and Two Other Altcoins
Vitalik Buterin Boosts Tornado Cash Defense Fund with $240K Donation
Polymarket Betting Volumes Surge Beyond $2 Billion as U.S. Presidential Election Fuels Speculation
Ripple’s XRP Ledger Could See $50 Trillion in Volume, Predicts Archax CEO