2024-8-30 18:06 |
Bitcoin has been rather volatile since the start of 2024 but the volatility is part of what attracts investors to the world’s largest cryptocurrency by market cap, says Anthony Pompliano.
BTC tanked to under $55,000 level at one point this month but the founder of Professional Capital Management remains positive on the cryptocurrency for the long term.
Historical bull runs tend to begin at the end of the third quarter and continue into the fourth quarter. So, Bitcoin is positioned to unlock its next leg up in the months ahead, he told CNBC in an interview on Thursday.
Since BTC tends to dictate the direction of the crypto market, if Pompliano’s projection proves to be correct, other names, including Memeinator which has already made waves in the market this year could benefit as well.
Is Memeinator well positioned for interest rate cuts?Anthony Pompliano is not entirely convinced that the US is headed for a recession especially now that the Federal Reserve has confirmed that it plans on beginning to cut interest rates from September.
The famed investor is bullish on Bitcoin also because it typically does very well when cheap capital floods the market. Lower rates, he expects, will be a tailwind for BTC also because it’s widely seen as a risk-on asset and that’s where the money tends to flow when the central bank starts to cut interest rates.
While Memeinator may attract investments in a rate-cut environment for similar reasons as well, its native MMTR token is an even exciting pick considering it also counts AI as a notable catalyst.
Memeinator relies on artificial intelligence to find and eliminate the weaker coins in pursuit of dominating the meme coins space. Click here if you’d like to know more about Memeinator and why is its native coin a good investment for 2024.
What may a recession mean for the MMTR coin?Even if the US economy slides into a recession moving forward, Bitcoin can still be expected to do well since many investors continue to see it as “digital gold” or a haven asset.
They can, therefore, be expected to turn to BTC to hedge against economic uncertainty, thereby increasing demand for the crypto pioneer.
Again, that strength could be reflected in the other crypto peers like Memeinator as well, particularly as MMTR has already made a name for itself in terms of demand. The meme coin raised more than $6.0 million in the presale, has been mentioned 5,645 times in media, and has received 1.44 million likes on social media.
Now, it’s all set to launch an NFT marketplace and a game called Meme Warfare that may strengthen its community further and drive demand for the native MMTR coin.
All in all, if you’re with Anthony Pompliano and expect Bitcoin and, by extension, the broader crypto space to do well in the months ahead, it may be a smart move to park some of your capital in Memeinator as well.
The post Bitcoin thrives in a rate-cut environment—could Memeinator do the same in 2024? appeared first on Invezz
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