BitMEX Co-Founder Arthur Hayes updated his market outlook, saying that after Bitcoin’s strong weekend, it’s time to trade memecoins.
BitMEX co-founder Arthur Hayes recently shared an update on social media, expressing his positive assessment of Bitcoin’s performance over the weekend.
.@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
Noting that Bitcoin has been performing solidly, Hayes suggested that with this momentum, it could be a good time to trade memecoins.
This statement comes on the heels of Hayes’ keynote speech at the TOKEN2049 conference in Singapore, where he outlined a broader market forecast.
According to Hayes, the market was likely to experience a significant decline following the rate cut and then recover and enter a bull market.
He also noted that Ethereum (ETH) is poised to perform particularly well during this period of interest rate cuts, pointing to strong growth potential in the cryptocurrency.
While the market awaits these developments, Hayes’ latest comments indicate a growing interest in more speculative assets such as memecoins, which often see increased activity during periods of increased volatility in the cryptocurrency market.
*This is not investment advice.
