NFT market cycle depression stage
The depression phase on a classic cycle chart is where NFT folks have landed, and the mockery hitting smart builders like Luca Netz (LucaNetz) is the tell. What tends to get lost: the stage after this doesn't have to drag on for years. Those phases can move fast, and the time axis on the chart isn't consistent units anyway.
Transcript (en)
I do think we're nearing the bottom here on NFTs because everyone is getting shit on. Like, poor Luca, man. He's so smart and shit, but he gets no love from people because people are savages. So yeah, I think we're in depression for NFTs and nearing the point of, I think we'll see a little disbelief rally, and then we'll go from there. But this stuff can happen so quickly. These phases don't necessarily need to be drawn out periods of time. That's, I think, a very important thing to look at with this cheat sheet. I'll show you all. is that like, when you look at this, the one thing that's hard to grasp is that like this, this line of time, it's not necessarily like consistent, meaning that this period up could be days or not days, like months, let's say. Right. And then these periods were like years like that, that is possible to happen. So although it's extended periods of times, it's not necessarily, it's like one year units or anything like that. I think that you can run through really quickly through these phases. That's what I'm trying to say. Love that. Love that. No one talks about that when they talk about that chart. If you're still into NFTs, you should definitely follow us because we talk about JPEGs more than we probably should.
