Bitcoin Price is Stable, Is It Time for Meme Coin?

Bittime - Arthur Hayes, co-founder of BitMEX, said that Bitcoin showed quite solid performance over the weekend. 

According to him, this is a sign that maybe it's time to take a look at meme coins. Why? Read this article to find out!

Bitcoin and Meme Coin

Bitcoin, as the main and most influential cryptocurrency, is often a market barometer for many investors and traders. Its stable performance amidst global economic volatility has attracted the attention of many market observers.

Meanwhile, even though it was initially thought to be a joke, some meme coins like DOGE and SHIB has gained immense popularity and experienced significant price increases, especially with the support of well-known figures such as Elon Musk.

Read Also: Meme Coin Domination, 11 Out of the Top 15 Projects are Meme Coin  

Arthur Hayes: Time for Meme Coin

Arthur Hayes says it might be time to start looking at meme coins. This raises questions among crypto investors whether a meme coin trend will come back stronger. 

After Bitcoin shows stable performance, traders often turn to more speculative crypto assets such as meme coins to seek short-term profits.

Bitcoin vs Meme Coin

Bitcoins and meme coins are like two different sides of the crypto world. Bitcoin is considered “digital gold,” a stable asset and often seen as a hedge against inflation or economic uncertainty. 

Meanwhile, meme coins are more in nature speculative because the price can rise quickly, this could be due to hype and tweets from public figures.

Arthur Hayes noticed this discrepancy and signaled to traders that now might be a good time to take a look at meme coins and exploit potential short-term profits.

Meme Coin: High Volatility

One of the reasons why many traders are interested in meme coins is its volatility. Meme coin prices can rise or fall very quickly, offering traders the opportunity to make huge profits in a short time. 

However, this volatility can also be a threat because it equals an increase in meme coin prices can also drop drastically.

For traders like Arthur Hayes, volatility is normal. When Bitcoin shows stability, this often indicates that volatility may be shifting to other assets, such as meme coins.

Read Also: Trump Meme Coin Prices Drop During Presidential Candidate Debate  

How to Buy Crypto with Bittime

Want to trade, sell and buy Bitcoins and crypto investment easily? Bittime is here to help! As an Indonesian crypto exchange officially registered with Bappebti, Bittime ensures every transaction is safe and fast.

Start with registration and identity verification, then make a minimum deposit of IDR 10,000. After that, you can immediately buy your favorite digital assets!

Check the exchange rate BTC to IDR, ETH to IDR, SOL to IDR and other crypto assets to find out today's crypto market trends in real-time on Bittime.