Bear Market and NFTs

Has NFT lost its value that it had when Bitcoin crossed the $60,000 barrier in the past, and has the passion for NFT symbols ended, or may it return to its previous era, as Bitcoin has now reached $34,000, coinciding with the rise in the rest of the other currencies by a percentage ranging from 2 to 5? %.

In the past, we have seen the momentum that occurred with NFTs, as they reached very large numbers, and we saw some Arts that were sold for millions of dollars in Ethereum, as the demand and competition for purchasing NFTs was very great. We also saw the sale of his first tweets from the founder of Twitter, a photo of 5000 days, and others.

It was illogical for many to buy some tokens of monkeys, for example, and other strange shapes that look like a few Pexels for millions of dollars, so the decline in momentum for this matter is very natural, but this is not the only reason that led to the decline in momentum for NFTs.

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Bear Market Affects Everyone

As for the market, which has recently declined over the past months, as we have reached very low levels for the price of Bitcoin after it reached 65 thousand dollars, many projects have been greatly affected, especially since in the bear market skeptics come and say that cryptocurrencies are a bubble and that they are about to collapse and other bad news. Which affected cryptocurrency projects.

And not only NFTs, whose momentum has declined recently, but also many Defi projects, as well as some platforms such as FTX, which have completely collapsed, so we cannot rule that this significant decline in NFTs is a collapse, but regarding the market situation in general, this matter may seem somewhat normal.

We are all waiting for the next Halving, which may be the beginning of the return of momentum again for many projects related to cryptocurrencies, as well as the return of prices as they were before for currencies and Tokens, and this is what we all hope for, as it will be a great reward for the Holders who were able to be patient all that previous period in the middle. All those fears and doubts that were spreading in the crypto community.

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