Some thoughts I’m having:
-I think we bottom over the course of a few days in a painstakingly this is going to crash manner, then get a pretty modest bounce. Guessing in this scenario bottom is in between here and eth 3200
-no promises on any macro movement after such a bounce
-nft’s will run in between now and then
-then people rotate back into alt coins but the coins are dead*
-pvp has already started, it started with NFT people entering altcoins and now continues with altcoin people entering NFTs
-people who went through NFT market will take profits earlier bc everyone winds up bagholding some regrettable project and doesn’t want to feel that again
-altcoin people will be left holding the bag because they think NFT season can repeat but NFT people know it can’t hit as high
-retail continues to decrease, getting stuck from altcoins and then NFTs along with inflation irl and economic talks of rough roads ahead stops participating
-institutional money is under no obligation to blindly allocate money on jan 1, they see how much is close to ATH and they have their own concerns and move from growth to value across the board
*or who knows maybe alt/NFT cycles continue until there are no longer willing participants
Also, NFTs will likely progress the same way they did a few months ago, starting with blue chips and ending with everything under the sun minting out, so we can spot the signs and get out.
I haven’t been really following NFTs but it appears they are ending blue chip phase and moving to next tier projects. And also lots of interest in new projects. Does that sound right?
-I think we bottom over the course of a few days in a painstakingly this is going to crash manner, then get a pretty modest bounce. Guessing in this scenario bottom is in between here and eth 3200
-no promises on any macro movement after such a bounce
-nft’s will run in between now and then
-then people rotate back into alt coins but the coins are dead*
-pvp has already started, it started with NFT people entering altcoins and now continues with altcoin people entering NFTs
-people who went through NFT market will take profits earlier bc everyone winds up bagholding some regrettable project and doesn’t want to feel that again
-altcoin people will be left holding the bag because they think NFT season can repeat but NFT people know it can’t hit as high
-retail continues to decrease, getting stuck from altcoins and then NFTs along with inflation irl and economic talks of rough roads ahead stops participating
-institutional money is under no obligation to blindly allocate money on jan 1, they see how much is close to ATH and they have their own concerns and move from growth to value across the board
*or who knows maybe alt/NFT cycles continue until there are no longer willing participants
Also, NFTs will likely progress the same way they did a few months ago, starting with blue chips and ending with everything under the sun minting out, so we can spot the signs and get out.
I haven’t been really following NFTs but it appears they are ending blue chip phase and moving to next tier projects. And also lots of interest in new projects. Does that sound right?