Bitcoin Plummets to $54K! Andrew Kang Warns of Common Mistake: Buying the Dip Too Early
Bitcoin failed to hold the hard-won $57K level on 7/8, starting to sell off from 5 am and plummeting to the $54K level; ETH also dropped back to $2800, with the overall market experiencing a general decline.
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Bitcoin struggled to sustain its hard-won recovery above the 57K level on July 8, plummeting from early morning to as low as 54K; ETH also dropped back to 2800, with a general market decline.
Renowned cryptocurrency investor Andrew Kang: A major correction will be deeper and longer than you imagine
Crypto investor Andrew Kang has maintained a bearish stance recently, commenting on the market's downturn again this week:
"The most common mistake you see in the crypto market is buying too early when the trend shifts from up to down. Corrections following major market structure breaks are always deeper and more lasting than most people anticipate. When a few are bearish on BTC's peak by 10%, you shouldn't buy. After all, some need to sell for the price to drop. When everyone is liquidated, people leave, and most question whether cryptocurrencies are dead forever, that's when you should buy for the next cycle."
Andrew Kang: Ethereum is not Nvidia, with poor fundamentals more like Intel
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