Bitcoin was unable to support the 57K level that it finally recovered on 7/8, and started selling all the way down at 5 a.m., falling to the 54K level; ETH also returned to 2800, and the overall market fell.

Well-known cryptocurrency investor Andrew Kang: Large-scale corrections will be deeper and longer than you think

Andrew Kang, an investor in the currency circle, has continued to maintain a bearish attitude recently. Faced with the market turning downward again this week, Andrew Kang said:

“The most common mistake you see in the crypto markets is buying too early when the trend shifts from up to down. Corrections to large market structural breakouts always go deeper and longer than most expect. When a minority is bearish on BTC You shouldn't buy when the highs are 10%. After all, some people need to sell for the price to fall. When everyone is liquidated and people leave here, most people question whether cryptocurrencies are dead for good. Buy in one cycle.”

The most common mistake you see in crypto markets is buying too early when the trend has inflected from up to down Corrections from big market structure breaks are always deeper and longer than most expectYou do not buy when a few people are bearish 10% off BTC highs. Some… https://t.co/8vLwKXBa4G

— Andrew Kang (@Rewkang) July 7, 2024

(Andrew Kang: Ethereum is not Huida. It has poor fundamentals and is more like Intel)

This article Bitcoin falls 54K! Andrew Kang warns about common mistakes: buying the dip too early first appeared on Chain News ABMedia.