Analysts: Buy Meme Coins Cheap During War News Dip
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With war news in the Middle East rapidly turning investors risk-averse, some analysts are suggesting that current falling prices across the market could be an opportunity to double down on meme coins and crypto in general.
CNBC Crypto Trader Ran Neuner was the first to suggest it over on Crypto Twitter.
He clarified that unless investors believe the conflict will escalate internationally, then it’s probably a good time to buy now while prices are low.
At the time of Ran’s tweet, market leader Bitcoin ($BTC) was $61,660. Currently, it is changing hands at $60,423.
Unless you believe this is WW3, you should probably start buying! ($61,660).
CNBC the following day interviewed the managing partner and head of research at stock market research firm Fundstrat who counselled stock traders to buy the dip as the market is in a “very tricky period.”
"I think we're still in the midst of a very tricky period," says Tom Lee of @fundstrat. "If we get a dip, I think you still want to buy that dip because the setup into year-end has a lot of tailwinds." pic.twitter.com/QIkp52C8uW
Around the middle of last month, the US Federal Reserve slashed interest rates by fifty basis points.
The move came after 2 years of 11 consecutive hikes saw US interest rates hit a twenty-year high last summer.
Borrowing costs came down and crypto started to rally.
However, there are now growing fears of wider war in the Middle East following Israel’s ground invasion of Lebanon three days ago and Iran’s recent bombardment of Israeli military targets.
The news adds to the macro-economic uncertainty right now and has moved investors away from equities and into oil, which
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