Why are bored apes or boring monkeys falling in price?
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Widely regarded as one of the top NFT collections, the Bored Ape Yacht Club NFT price floor is facing pressure in recent months, but the collection sank to its lowest point on Ethereum since November 2021 due to many factors. , they are all speculations but they point to the same result, the fall in prices of boring monkeys...
Among the factors that attribute to its fall is the fall of the entire cryptocurrency market in recent years, also the consequences of covid 19 in the stock markets and the demands of the SEC of the United States government in the world. of cryptocurrencies, and also to the massive sale of Huang shares.
Prominent NFT collector Jeffrey Huang, a Taiwanese-American musician and tech executive better known as Machi Big Brother, released a wave of Apes onto the open market.
These are some examples of how much prices have fallen,
Madonna acquires NFT from Bored Ape Yacht Club for $571,000
current value ? 38,000
Paris Hilton acquires her Bored Ape NFT for $300,000
Current value? $40,000
What can we learn from this?
That the prices of cryptocurrencies including NFTs always go up and down, and that for many who are new to this world perhaps they do not understand how this world works, and the first reaction is fear.
Moral or lesson, better not buy if you do not fully understand how this market works, it is new and a lot of analysis and understanding is needed before making any investment....
Well that's all for today, until our next APE 3D video..
Sayonara to everyone..
