Is it the fishtail market again?

Source: Liu Jiaolian

Winter in the North has become increasingly cold these days. In the early morning, before the sun began to rise, the temperature dropped to minus 11 degrees.

After all, the market was still unable to stand up, and it hid under the 30-day moving average, just like a kitten in winter hiding in a corner where the sun barely penetrates, lying down obediently.

I opened social media - well, this category word seems to refer specifically to that website on the Simplified Chinese Internet - and browsed around for a long time. They were all boring words that had nothing to do with each other. It was really annoying. People are not interested.

Looking at the inscription coins on mobile phones that have surged in the past few months, MA7 has just crossed below MA30, which makes people feel that the market's decline will last longer.

Some people on the Internet joked that inscription coins are coins when they are bought and NFTs when sold.

To chase the wind and waves in the market, the most important thing is to wait. Wait very patiently. Wait for victory after opening a position, and wait for opportunities after reducing holdings.

In less than a week, we have heard some faintly worrying signals.

First, I heard that Pudgy Penguins has become popular and is said to be selling for more than 1 BTC.

Secondly, I heard that someone offered nearly 100% to the holder of Punk #2491. The purchase price of 2.4 million U.S. dollars (969 ETH) was rejected.

Someone also offered Punk #7804 more than 4 million US dollars, but it was also rejected .

Most of those who have experienced bulls and bears in this market know that this NFT is often the last straw in market sector rotation.

The reason is not that big. It’s just that because of the rotation of the market, the hot money is getting cut off, and the hot money is getting less and less. It is unable to support the larger sectors, so we can only shift the front. Compete on a track with less fluidity.

The fun thing about NFT is that it is non-homogeneous, and if it is different, it will be reluctant to sell.

Being reluctant to sell will naturally reduce the turnover rate.

When NFT begins to take off, the market is often coming to an end.

I still remember that in the spring of 2021, Beeple’s paintings fetched sky-high prices. Then, the “519” mining disaster occurred and the encryption market plummeted.

At the beginning of 2022, the data storage market was booming, and opensea’s transaction volume hit a new high. In June, BTC completely broke through $30,000, driving the entire market into a bear market.

It is not easy to know, but even more difficult to do. It is difficult to move, and even more difficult to stop.

He who is good at walking has courage, and he who is good at stopping has wisdom.

After all, after the winter snow, spring comes again.