- Bitcoin’s unusual bull market trend skipped over traditional liquidity flows.
- Meme coins’ instability is contrasted to the stability of the wider cryptocurrency landscape.
In anticipation of the Bitcoin [BTC] Bitcoin is still in the limelight despite the price fluctuations and halving.
Various analysts have labeled this the “Bitcoin Bubble” because of the rapid rise in Bitcoin and the sudden popularity of memes. “weirdest” The bull market is back!
Jumping right into the fight Chainlink [LINK] community liaison Zach Rynes, known as ‘ChainLinkGod’, noted,
“I think most people would agree this bull market has been weird.”
Further, he added:
“The market skipped a couple steps that we have seen with previous cycles, BTC -> straight to memecoins is a bit unusual.”
It is clear that this cycle, in contrast to traditional liquidity flows has been characterized by capital bypass Ethereum [ETH] Bitcoin can be used to buy memes.
Memecoin is a new phenomenon.
Solana [SOL]The ‘based meme coin, which includes dogwifhat [WIF] The following are some examples of how to get started: Book of Meme [BOME]Comparing the performance of compared to meme coins, has shown superior results.
On the first of April, the total memecoin capitalization reached 70 billion dollars.
WIF’s market cap was $4.48bn, whereas PEPE, based on Ethereum, reached $3.45bn.
In contrast to memecoin’s craze @MooseCryptos noted,
“I feel like cheap blockspace on Solana and Base has incentivized memecoin trading, but the memecoin narrative can flip on a dime.”
Further, he added:
“If we have a longer-drawn pullback (1-3 months), they will get hit hard.”
It is clear that the market for Memecoins can be highly volatile due to its high volatility and vulnerability to changes in sentiment.
Ethereum educator remarks on this strange or unusual trend in the market. Anthony Sassano added,
“I won’t really believe that “Retailers are able to buy goods at discounted prices.” is here in any meaningful way until we see the entire market going up together – not these isolated “Specific Sectors” pumps that are very obviously pushed by crypto natives and just involve a hot ball of money rotating around.”
What is ahead for you?
Market conditions in the current crypto market are unique, as they’re characterized by an early rise of Bitcoin and the unmatched popularity of memes.
As we get closer to Bitcoin’s halving it will be fascinating to see BTC and other meme currencies leapfrog from their traditional prices.
“This article is not financial advice.”
“Always do your own research before making any type of investment.”
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Source: ambcrypto.com
