Some people think that it is enough to trade NFTs just based on the chart to decide whether to buy or sell.
And the reality doesn’t stop there.
Let’s take a look at the important factors that NFT traders need to consider:
– Community excitement.
– New announcements/updates.
– Psychology of the community.
– Other community sentiments about the assets you are holding.
– The strength of the community.
– Team capabilities.
– The holder of the largest amount
– Product vision (opportunity to go viral).
– New buyers.
– Active loans.
– Number of holders with excessive loans.
– Balance of farmers on Blur
– Liquidity of the above farmers.
– Other projects are exciting (you can get liquidity from the assets you hold).
– Other blue-chip projects (one might consider selling your property to buy something else).
– Cryptocurrency market, global market.
As such, it’s not just looking at the chart, but actual NFT trading requires a broad understanding of the factors that affect the markets. Careful consideration and analysis of these factors can help the NFT trader make informed decisions and optimize his or her investment strategy.
