An old saying in investment cycles is that the best time to buy is when there is blood in the streets. That’s because you get assets at massive discounts and can gain a lot once the markets start moving. At the moment, the entire cryptocurrency market is in this situation.
Most cryptocurrencies are trading at lows of over 70%. However, one aspect of the crypto market that seems to be at a point of maximum opportunity is NFTs. NFTs have underperformed in recent months, and even in the crypto rally recently, NFT prices remained depressed. Under these conditions, when NFT prices are at their lowest, here are the NFTs that could give a high ROI in case of a rebound.
Bored Ape Yacht Club (BAYC)
Bored Ape Yacht Club (BAYC) is one of the most famous NFT collections in the market today. However, for the better part of 2022, the Bored Ape Yacht Club has been underperforming. In fact, on some platforms that allow for the leverage trading of BAYC NFTs, investors are close to getting liquidated. However, after trending lower for months and fear at its highest, there is a good chance that the Bored Ape Yacht Club could be about to make a rebound. That’s because volumes across the crypto market are drying up, and just a few large orders could trigger a rebound.
CryptoPunks is another of the top NFTs in the market today. For months, CryptoPunks NFTs have taken a hit as money flow into the broader cryptocurrency market dried Up. The price is currently flatlining, an indicator that these NFTs could have hit bottom. If the broader market makes a rebound led by a potential bullish breakout for Bitcoin, CryptoPunks is one of the NFTs that could be highly rewarding to investors in the short term.
My Neighbor Alice (ALICE)
After consolidating between the 19th and 23rd of August 2022, My Neighbor Alice (ALICE) is gaining upside momentum. It indicates that bulls are regaining control and that ALICE could have hit bottom. If the current momentum continues, ALICE could easily end the month above the month at $3 or more.
Besides the technicals particularly bullish for this cryptocurrency, ALICE is likely to get a boost from the broader market, which is also showing signs of bear exhaustion as selling volumes drop. For an investor looking to take advantage of the depressed prices, ALICE comes across as a top NFT to consider in the coming weeks.