Terra Classic Price Prediction - Is LUNC Dead, Two Experts Predict 'Zero'
The day the Terra Classic Charge (LUNC) hit its 2022 top, of the great crypto buyers correctly anticipated the bull run that turned into over.
That was September eighth, when the LUNC charge reached $0.000593 on Binance, and as of mid October, LUNC is now buying and selling over 50% lower, under the $0.0003 help level.
Terra LUNA Classic Price Prediction-Light Crypto
GCR (@GiganticRebirth), who has 187,000 followers, answered from his secondary account with a Hillary Clinton quote, "It really is proper, 0". GCR famously gained a $10 million guess towards former Terraform Labs CEO Do Kwon's direction, together with his bearish Terra LUNA rate prediction back in March.
Light, who runs a prop trading company, then posted a long tweet thread a few days later with a mixture of essential and technical analysis:
In addition to predicting that the Terra Classic fee movement would be a pump and dump—"pumped by hit-and-run developers and cynical alternate operators, all taking advantage of the hordes of retail seeking to make it all again in one trade," he tweeted a few days later that LUNC would drop 90%+ to return to its beginning, or lower.
Later that month, the LUNC fee did crash 70% to $0.000179, even though not anything goes down in a straight line (the Terra LUNA collapse in May was a black swan event due to the circulating delivery hyper inflating to 6.5 trillion).
For Light's prediction to play out-he charted a target of $0.00004, the yearly low of the new Terra Classic asset since the hard fork, hit on June 9th, 2022-the LUNC fee might need to drop by 84% from its current charge.
October LUNC Price Prediction Tweets - LUNC Burn
Light's most recent tweet thread this month centres around Binance burning LUNC tokens, and how the 1.2% LUNC burn is not enough to justify Terra Classic increasing over $1 billion in market cap since it was announced.
He additionally published Coinalyze statistics on October 3rd showing an "insane quantity of deadwood to wipe out in LUNC derivatives, $262.2 million across venues and gadgets, all levered, all pushed through a bankrupt narrative into a sell the news event."
Incredibly, Oct 2nd turned into a pinnacle again because the LUNC charge spiked lower back to $0.000372, but the leap from $zero.0001794 ended there.
Like his Sept. 8th post, the Terra Classic charge has not traded better than that day when you consider that then.
Across crypto Twitter circles, Light is considered one of the nice crypto investors to observe for price predictions and different market evaluations.
As is GCR, who predicted the Bitcoin charge would return in November 2021, while the best-ever high of $60,000 turned into a hit and the undergo marketplace started out.
We suggested how Gigantic Rebirth shorted LUNC at $0.00042 on September ninth, and turned into nearly $4.24 million in PnL a week later.
Also on the day the Terra Classic price was crowned, some other superb crypto analyst, Tree of Alpha, compared LUNC to a ponzi scheme and pointed out that transaction tax burns didn't prevent SafeMoon from going to zero.