The difference between Bitcoin and other projects..

[Victorybit1]

I found this very interesting and decided also to share amongst the community especially those of us that are just getting into the crypto space and also for some other folks that might still be having doubts about the uniqueness of Bitcoin against other crypto assets and projects in general.

Few years back there was this big buzz about NFT purchase which of then was kinda the deal as even celebrities and important personalities got their hands on some NFT projects of which one of the famous cases was the purchase by popular hip pop star JUSTIN BIEBER for the purchase of his monkey 🐒 NFT which as of then according to reports was valued about $1.3million and now that same asset is now ranging at price of $12000 which for me is just absolutely crazy.

bored monkey NFT purchase

There are so many other people that have followed the trend of a particular coin or project doing very good at its early stages and bought or invested on them and some person even do this without research. There are so many investors that have regretted buying some  shitty coin or invested on some vague projects but at the initial stages they were comfortable doing such just because of the initial speed or increases they saw.

Bitcoin have proven itself on so many occasions that it's the king even despite all the bear market and dips that have made some persons shy away from investing in it at the later run the price always end up green with even a bigger value which is something that isn't possible with all these shitty projects and coins that tend to flood the crypto space.


Important note: Bitcoin always recovers, it's just a matter of time and the holding mentality of the investor

Question: how possible do you think that this particular NFT will have to get back it's initiated entry price value and even do more.

[ColdLava40]

Question: how possible do you think that this particular NFT will have to get back it's initiated entry price value and even do more.

Lol, it won't

I basically don't compare Bitcoin with other cryptocurrency because it has gapped them by far. No matter what new features they try to implement on new coins and tokens claiming to be the next big talk of the town, it won't take a matter of time before the hype dies off.

I see Bitcoin being the next global form of money as it's already leading when it comes to digitalized financial systems. It's just a matter of time.

[JiiBs]

Question: how possible do you think that this particular NFT will have to get back it's initiated entry price value and even do more.

Lol, it won't

You know, you come to find these trends and when you see the amount of money that has being sunk into them, you’ll be amazed at how most persons want to win so bad in the space, they want to catchup on lost opportunities that they result into risk taking that would turn out to not be rewarding.

This is what you get when you missed a chance to invest when Bitcoin was still below $100 and still, you hope to find such opportunity in new developments within the space even when you should be looking at Bitcoin and hanging on its cycle to give you optimum value for your money.

[Wiwo]

Question: how possible do you think that this particular NFT will have to get back it's initiated entry price value and even do more.

Lol, it won't

I basically don't compare Bitcoin with other cryptocurrency because it has gapped them by far. No matter what new features they try to implement on new coins and tokens claiming to be the next big talk of the town, it won't take a matter of time before the hype dies off.

I see Bitcoin being the next global form of money as it's already leading when it comes to digitalised financial systems. It's just a matter of time.

NFTs look like a targeted hype to me and at the time that the noise around NFTs was high,  I never took it seriously because I didn't feel the trend at that time maybe because I was still early in the cryptocurrency space at that time.

What I noticed is that, those celebrities were the targeted investors for NFTs, and now they are counting their losses.

Regarding whether the price of those collectables will recover to their earlier hypes is another different ball game.

[ColdLava40]

This is what you get when you missed a chance to invest when Bitcoin was still below $100 and still, you hope to find such opportunity in new developments within the space even when you should be looking at Bitcoin and hanging on its cycle to give you optimum value for your money.

Something just crossed my mind, if he had Invested that same $1.3 Millon in Bitcoin as at 2022, let's say ending of the year when price was around $16,529, he would have gained over 342% return that's 5x his investment. His coins would have been worth $5,700,000 or even more today.

Like I said, all these were just hypes because someone reasonable would have thought it twice.

[Chibit01]

Important note: Bitcoin always recovers, it's just a matter of time and the holding mentality of the investor

Question: how possible do you think that this particular NFT will have to get back it's initiated entry price value and even do more.

The chances of that NFT value going back to same purchasing value is extremely low, unless Justin is ready to invest more money and take a great risk in trying to push back that NFT narrative to the market in other to attract victim that will buy it from him.

NFT market was one among many means of scamming in crypto but many did not see that, what most of this people usually do back then was create up to 5 different wallet, use one as the NFT creator place the NFT on sales in NFT marketplace then use another wallet to make the buy and also use influencer to make such transactions go viral, later on they can use other fund wallet to buy same NFT with a higher price it continues until they attract victom who will think there is really some good demand on the product and try to buy it, reselling them with close value of what it was purchased with is always the problem.

[PX-Z]

Question: how possible do you think that this particular NFT will have to get back it's initiated entry price value and even do more.

The era of NFTs are long gone, so i have little to no hope of it getting back up again. It's better to pull off all your fund from that tokens (NFTs) then buy new meme coins instead, it has higher chance to pump its price again later when bull season arrives, of course just like that, bitcoin do will too.

[Marykeller]

Question: how possible do you think that this particular NFT will have to get back it's initiated entry price value and even do more.

Lol, it won't

A sad and painful reality that many who have lost a huge amount of money on shitcoins wouldn't like to accept in good faith. They will nurse their hope on dry land for a miracle which will be far fetched.

I wonder what Justin Bieber will think of each time he remembers his NFT purchase of $1.3 million that turned out to be worth $12k currently.

This is a state of confusion that Justin will be in, if it is to sell or continue hodling of the Ape NFT for further losses

[Kavelj22]

This is what you get when you missed a chance to invest when Bitcoin was still below $100 and still, you hope to find such opportunity in new developments within the space even when you should be looking at Bitcoin and hanging on its cycle to give you optimum value for your money.

Something just crossed my mind, if he had Invested that same $1.3 Millon in Bitcoin as at 2022, let's say ending of the year when price was around $16,529, he would have gained over 342% return that's 5x his investment. His coins would have been worth $5,700,000 or even more today.

I can think about three possible scenarios:
- The celebrity is somehow involved in a money laundering program with someone who has some dirty funds. Those NFT collectibles have been used like traditional art works as a way to clean dirty money.
- The celebrity is the creator of that NFT work and tried to create hype by selling it to himself. Selling it later for $12K isn't a big profit but it is still profit.
- The celebrity want to follow the crypto trend and he chosed to invest in the crypto art wave as he is an artist himself. I guess he has already previous investments in bitcoin or other cryptos.

Like I said, all these were just hypes because someone reasonable would have thought it twice.

I like to compare it with the memecoins hype as well. Those are useless products that nobody is in real need for them or would need them at anytime sooner.

[tech30338]

I found this very interesting and decided also to share amongst the community especially those of us that are just getting into the crypto space and also for some other folks that might still be having doubts about the uniqueness of Bitcoin against other crypto assets and projects in general.

Few years back there was this big buzz about NFT purchase which of then was kinda the deal as even celebrities and important personalities got their hands on some NFT projects of which one of the famous cases was the purchase by popular hip pop star JUSTIN BIEBER for the purchase of his monkey 🐒 NFT which as of then according to reports was valued about $1.3million and now that same asset is now ranging at price of $12000 which for me is just absolutely crazy.

bored monkey NFT purchase

There are so many other people that have followed the trend of a particular coin or project doing very good at its early stages and bought or invested on them and some person even do this without research. There are so many investors that have regretted buying some  shitty coin or invested on some vague projects but at the initial stages they were comfortable doing such just because of the initial speed or increases they saw.

Bitcoin have proven itself on so many occasions that it's the king even despite all the bear market and dips that have made some persons shy away from investing in it at the later run the price always end up green with even a bigger value which is something that isn't possible with all these shitty projects and coins that tend to flood the crypto space.


Important note: Bitcoin always recovers, it's just a matter of time and the holding mentality of the investor

Question: how possible do you think that this particular NFT will have to get back it's initiated entry price value and even do more.

If you are an investor, you should not fall in love with an investment, meaning you should willing to let go of it, when the time is right take profit when its needed, and don't just follow the trend, this is why some investors are stuck with some coins that has already dead, they are still holding while others are already investing into a new project while watching your token goes to zero.
With NFT i don't think they can get back at the old price, it will be very hard, it would be a big come back if the price will get back to its original all time high, so remember investing and collecting is a different thing, it should be study more important if you need to spend thousands of dollars on it.

[_act_]

Question: how possible do you think that this particular NFT will have to get back it's initiated entry price value and even do more.

You did not ask the question that what if the NFT will continue to fall.

We are not in the time of NFTs anymore, the time has gone in the second to the last bull run. But I am surprised to see that Justin Bieber bought an NFT but the price of the nonfungible token continue to fall. I thought celebrities NFTs supposed to be rising just like the physical arts.

[Alpha Marine]

The NFT case is a very different one because even at the peak, it was obvious that it was a bubble. Everyone could see it except the people who were buying them. It would have been better if they bought it to sell, but they bought it to hold. What exactly were they expecting?
Paintings that remain expensive over the years are based on the painter. Expensive paintings are not the most beautiful paintings, or the deepest paintings, but the history of the painting and the painter are the reasons for their worth. It was obvious that with time, the NFT bubble was going to burst.

I think it is even worst that buying shit coins because most people don't buy shit coins or memes to hold for a long time. They buy with the hopes to sell when the price appreciates so they can make profit from it.

[Taricoins]

Well this is one way of actually looking at say saying you have lost your money because as the price value is currently showing on that NFT there is no way that shit is appreciating back to the normal price. Sometimes I feel these guys actually do all these things because they have lots of money and so they don't actually care or do research because he is not the first to actually buy some worthless piece of f work.