Arthur Hayes, co-founder and former CEO of cryptocurrency exchange BitMEX, has turned attention to memecoins after Bitcoin’s (BTC) strong performance over the weekend. Hayes stated on his social media account that Bitcoin’s price maintained its upward momentum and said, “Memecoin trading is next.” Hayes’ comment attracted great interest from cryptocurrency investors.

"Memecoin Time"

Hayes stated that he was pleased with Bitcoin’s performance in recent days and announced that it was time for investors to trade memecoins. Hayes stated that Bitcoin maintained its value throughout the weekend and that this was a positive signal for the market.

The famous cryptocurrency investor emphasized that investors' attention should be directed to memecoins and said, "Now is the time to do some 'dogshit' memecoin trading."

Fed's Rate Cut and Market Expectations

On the other hand, Hayes also touched on the impact of the Fed's decision to lower interest rates on the markets in his speech at the TOKEN2049 event held in Singapore. Hayes predicted that if the Fed lowered interest rates, the market would first experience a decline and then a new bull market would begin. Stating that Ethereum (ETH) would perform strongly during this process, Hayes stated that Ethereum's potential would increase, especially with interest rate cuts.

Hayes also admitted in his social media post that his previous predictions about the Japanese yen weakening were wrong. However, Bitcoin’s strength over the weekend has caused Hayes to reconsider his predictions. The famous cryptocurrency investor gave positive messages to investors by saying in his post, “BTC held up well over the weekend. Let’s see, let the good times begin!”

Hayes’ statements have had a wide impact on the cryptocurrency market, indicating that investors should turn their focus to memecoins as well as Bitcoin. However, it remains unclear how the cryptocurrency market will proceed, and this is a matter of great curiosity.