Investors Eye Altcoins Amid Market Decline; 98% Peaked for Q4 2024

The cryptocurrency market has seen a significant decline in altcoin values over the past several weeks. Despite this downturn, many investors believe that the current lower prices present attractive buying opportunities. Mechanism Capital founder Andrew Kang suggests that over 98% of altcoins have peaked for the current cycle, with only a few expected to reach new highs in Q4 2024 or Q1 2025. Among these, meme coins are anticipated to have the highest potential for new highs. Investors are actively seeking high conviction altcoin buys, with some focusing on AI, Ethereum DeFi, and DePin plays. The general sentiment is that while Bitcoin needs to hit $120,000 to double investments, altcoins could offer much higher returns in a shorter timeframe. One analyst spent 48+ hours researching and identified 7 coins that may explode in the coming few weeks.