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An old adage about the investment cycle is that the best time to buy is when there’s blood in the city. This is because you can get assets at deep discounts and make a lot of profit once the market starts moving. The entire cryptocurrency market is in this situation at the moment.
Most cryptocurrencies are trading at over 70% low. However, the one aspect of the cryptocurrency market that he sees as having the greatest opportunity is NFTs. NFTs have been underperforming in recent months, and even with the recent cryptocurrency rally, NFT prices remain sluggish. Under these circumstances, when NFT prices are at their lowest, here are the NFTs that may offer a high ROI if they rebound:
Bored Ape Yacht Club (BAYC) is one of the most famous NFT collections on the market today. For much of 2022, however, Bored Ape Yacht Club has been underperforming. In fact, investors are nearing liquidation on some platforms that allow leveraged trading of BAYC NFTs. But it’s entirely possible that the Bored Ape Yacht Club are looking to rebound after months of downtrends and terrifying climaxes. This is because the entire crypto market is drying up in volume and a few large orders could trigger a rebound.
CryptoPunks is one of the top NFTs on the market today. For months, the CryptoPunks NFT has suffered as the flow of funds to the broader cryptocurrency market has dried up. Prices are currently flat, indicating that these NFTs may have bottomed out. CryptoPunks is one of the NFTs that could bring significant returns to investors in the short term if the entire market rebounds due to Bitcoin’s potential bullish breakout.
Outside of the two largest NFTs (BAYC and CryptoPunks), battle infinity One of the top NFTs that could do well in the short term. One of the reasons Battle Infinity stands out as a potentially good investment is that big money players, commonly known as whales, buy Battle Infinity.
This month, Battle Infinity’s 90-day presale raised over $5 million and sold out within 24 hours. With such a high level of interest from both small and large investors, Battle Infinity has the potential to generate substantial returns for investors in the short to medium term.
After consolidating between August 19-23, 2022, ALICE is gaining momentum. This indicates that the bulls are regaining control and ALICE may have bottomed out. If current momentum continues, ALICE could easily end the month above $3.
In addition to the particularly bullish technicals for this cryptocurrency, ALICE is likely to get a boost from the broader market, which also shows signs of bearish exhaustion as sales dwindle. For investors looking to capitalize on depressed prices, ALICE comes across as the best NFT to consider in the coming weeks.
