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/*$(".btn").click(function() {
  $(".myText").toggle();  
});*/

// OR

$(".btn").click(function() {
  
   var lable = $(".btn").text().trim();

   if(lable == "Hide") {
     $(".btn").text("Show");
     $(".myText").hide();
   }
   else {
     $(".btn").text("Hide");
     $(".myText").show();
   }
    
  });

<style>
.btn {
  width: 120px;
  height: 50px;
}
</style>

<button class="btn">
  Hide
</button>

<p class="myText">
  You can hide and show me again.
</p>