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Would not be surprised by a slight pullback in NFTs here as short-term CT traders who bought a few over the last 48 hours get ancy.
Here's the thing, this NFT cycle is not going to be driven by CT this time. It is wider scale acceptance by a different buyer, an institutional buyer, hardened art collectors and newly onboarded people who find the crossroads of art, decentralization, crypto interesting.. and that recognize the value in the scarcity and longevity of the asset as adoption continues.
Ultimately the result will largely be the same. Institutional buyers look to consensus grails, eventually some OG collectors of said grails sell when valuations hit crazy amounts and the trickle down starts where they re-invest that capital into valuable, lesser known art. This creates a wider scale bull market for NFTs and CT gets heavily involved again as the general scarcity of NFTs make it a ripe playground for both collectors and traders when conditions are hot.
At the end of the day, I think conditions look really good for our digital goods, but just remember..
- buy art you love
- at a price you can afford
- with a plan to hold forever
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