i have been watching closely the crypto market and I wanted to ask if the bull market that affects crypto also affects THE NFT markets. most NFT Markets that I know have a close groups or secret groups where they instruct their owners and creators to increase the price of their NFTs. i have never seen where such is been done and I don't think that is how the crypto space works.
What determines the price of NFTS?
I am afraid, that NFT will be one of the areas of crypto that will take the biggest plunge if we slip into deep crisis. And while coins will recover during the next bull run, current NFT will probably just be replaced by new one and will loose value. I cant see how in a current bombardment of NFT, people expect the price to be higher then it’s the cycle 2017-2021 repeats again.