Introduction
July saw a drop in NFT sales volume, but one trader was able to make the most out of the situation by outsmarting a bot. The trader?s experience highlights the importance of human intuition in a market that is increasingly dominated by algorithms and automation.
Trader Bait Bot
According to a report by NonFungible.com, NFT sales volume dropped by 40% in July compared to June. During this period, a trader identified a bot that was constantly bidding on NFTs within a certain price range. The trader then listed an NFT for sale at a slightly higher price, knowing that the bot would likely place a bid.
As expected, the bot placed a bid on the NFT, but the trader was able to cancel the sale and relist the item at a higher price, resulting in a higher profit.
The Importance of Human Intuition
This experience emphasizes the importance of human intuition in a market that is increasingly dominated by algorithms and automation. While bots can be useful in automating certain tasks and providing efficiency in the market, they lack the ability to understand human behavior and adapt to changing market conditions.
Traders who rely solely on bots may miss out on valuable opportunities or fail to recognize market trends that require human intuition to identify. As the NFT market continues to grow and evolve, traders must strike a balance between automation and human intuition to succeed.
The Future of NFTs
Despite the drop in volume in July, the NFT market is still seeing significant growth and adoption. The recent sale of a CryptoPunk NFT for $69 million highlights the potential of the market and the value that collectors place on these digital assets.
As the market continues to mature, we can expect to see more innovation and experimentation with NFTs, as well as increased regulation and oversight. Traders who are able to adapt to these changes and utilize both automation and human intuition will be the most successful in this dynamic market.
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Conclusion
The drop in NFT sales volume in July may have been disappointing for some traders, but it also provided an opportunity for others to outsmart bots and make a profit. This experience highlights the importance of human intuition in a market that is increasingly dominated by algorithms and automation. As the NFT market continues to grow and evolve, traders must strike a balance between automation and human intuition to succeed in this dynamic market.
