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Arthur Hayes, co-founder of BitMEX, recently updated his market outlook, pointing out that the recent strong weekend performance of Bitcoin makes it a good time to start trading memecoins.
In a social media post, Hayes expressed his positive evaluation of Bitcoin’s performance over the weekend. He emphasized that with Bitcoin’s momentum, now might be an ideal time to engage in memecoin trading.
This statement came shortly after Hayes delivered the opening speech at the TOKEN2049 conference in Singapore, where he outlined his broader market predictions.
.@IGGYAZALEA can you be my $MOTHER?
I was wrong $JPY weakening, $BTC held up well over the weekend. LFG, and let the good times roll.
Time to trade some dogshit meme coins.
— Arthur Hayes (@CryptoHayes) September 23, 2024
Hayes’ Market Insights
According to Arthur Hayes, following the recent interest rate cuts, the market is likely to experience a significant dip before recovering and entering a bull market. Hayes also pointed out that Ethereum (ETH), in particular, is poised to perform well during this period of rate reductions, signaling strong growth potential for the cryptocurrency.
As the market anticipates these developments, Hayes’ latest remarks highlight the growing interest in more speculative assets like memecoins, which often see increased activity during times of heightened market volatility.
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