Bitcoin Expert Comments on NFT Market: Big Crash in December!

2021 was a full year when NFT projects were opened to the world and new trains were determined. During the first boom of February, there was an absolute boom for NFTs, spearheaded by the likes of NBA Top Shot and CryptoPunks. However, according to Bitcoin expert Charles Edwards, sunny days may turn dark at the close of the year. The Capriole Investments founder interprets this as an “NFT winter.”

Is an NFT winter approaching?

Edwards stressed in a recent tweet that the gains in NFTs this year are ridiculous. According to the Bitcoin expert, crypto communities may want to take some of their profits out of the market in the coming days. Edward sums it up as follows:

We expect some NFT meltdowns in December. A lot of money has been made in NFTs this year. People will need to set aside profits for year-end tax. This means selling pressure in an illiquid market.

Edwards’ tweet also sparked an interesting discussion about the logic of buying and selling. In general, the comments are gathered around two main topics:

  • Some believe most of this selling pressure has already happened
  • Some believe it is the losers who sell, not the winners.

Of course, no one knows what the end result will be (and there is definitely some logic behind both lines of thought) and it will likely be a test of the strength of the long-term belief system behind NFTs.

cryptocoin.com Check out the snow king 3 metaverse coin project of the day we prepared.

Let’s take a look at the market data

Looking at the 30-day NFT market data on DappRadar, most of the headlines on the marketplaces are experiencing volume drops. OpenSea, Solana’s Magic Eden, central Flow platform NBA Top Shot, SuperRare and Rarible are seeing volume drops in 30-day issues. On the other hand, Metaverse headlining Decentraland has seen a nice uptick recently, continues to run strong with Axie Infinity leading the play-to-win category, and WAX platform and cross-market AtomicMarket also performed well.

Contact us to be instantly informed about the last minute developments. twitterin, Facebookin and InstagramFollow and Telegram and YouTube join our channel!

Disclaimer: The articles and articles on Kriptokoin.com do not constitute investment advice. Cryptokoin.com does not recommend buying or selling any cryptocurrencies or digital assets, nor is Kriptokoin.com an investment advisor. For this reason, Kriptokoin.com and the authors of the articles on the site cannot be held responsible for your investment decisions. Readers should do their own research before taking any action regarding the company, asset or service in this article.

Warning: Citing the news content of Kriptokoin.com and quoting by giving a link is subject to the permission of Kriptokoin.com. No content on the site can be copied, reproduced or published on any platform without permission. Legal action will be taken against those who use the code, design, text, graphics and all other content of Kriptokoin.com in violation of intellectual property law and relevant legislation.


source site-1