HodlKnight
The Punk NFT market has seen quite a few interesting phenomena recently. After an investor lost $500,000 on such projects, their attitude changed 180 degrees — from a holder to a staunch bear, even labeling themselves as a "bearish Punk." These investors typically predict that Punks should drop more than 70% from their current position. Interestingly, when someone bets with even odds that Punks will really fall 70%, they refuse and instead demand 5:1 odds before willing to bet. This contradictory attitude of "being bearish in words but cautious in practice" is not uncommon in the NFT community
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