The crypto market has been falling for the past 9 months. While Bitcoin, the leading cryptocurrency, fell from $ 70,000 to $ 17,700, many altcoins also experienced decreases of up to 95 percent from ATH levels. After these decreases, it is seen that a small movement started in the NFT sector. The upward movement of the leading cryptocurrency again excites NFT investors.
As of today, a sale has taken place in CryptoPunk, a collection closely followed by NFT lovers. This sale is sitting on the crypto agenda. This $3.3 million acquisition brought an increase in the base price of the popular NFT collection. Earlier this week, CryptoPunk NFT was sold for $2.6 million.
Although an increase of $700,000 seems like a lot, in early June alone this NFT collection was selling for $12 million. NFTs are expected to increase in popularity again if a small upward trend starts in the crypto money industry.
Bitcoin (BTC) Investors Experience the Most Scariest Times in History
Cryptocurrencies are known to act in correlation with global markets. Investor instruments, which collapsed as a result of the US Federal Reserve's (FED) interest rate hikes, are going through a difficult period. The leading cryptocurrency Bitcoin (BTC), which has experienced decreases of up to 70 percent from the ATH level, still has not even experienced a reaction rise.
During this collapse period, many crypto money loan companies went bankrupt. While the number of layoffs, even by the stock exchanges, increased enormously, the interest in the sector decreased day by day. As a result of these events, the level of fear on users who still have investments in the crypto money sector has increased sharply.
Philip Swift, the founder of Look Into Bitcoin, a successful data provider, shared a tweet after the events of recent months. The successful CEO, who studies the crypto fear and greed index, says that we are in the most frightening period of the crypto money industry. This index, which has never been at extreme fear levels for more than 50 days, has reached 75 days as of now. If this horror adventure, which started with the collapse of Terra Luna, ends in the coming days, it seems that Bitcoin, the leading cryptocurrency, can be seen to rise again.