The day the Terra Traditional worth (LUNC) hit its 2022 high, two of the very best crypto merchants appropriately predicted the bull run was over.
That was September eighth, when the LUNC worth reached $0.000593 on Binance, and by mid October LUNC was buying and selling over 50% decrease, beneath the $0.0003 help degree.
Replace Could 2023 – since penning this submit, the Terra Traditional worth has dropped 75% additional.
Terra LUNA Traditional Worth Prediction – Mild Crypto
Mild (@lightcrypto), who has 169,000 followers, tweeted: “Assume LUNC burn commerce is about to implode, momentum simply broke, elevator down is a excessive risk”.
GCR (@GiganticRebirth), who has 187,000 followers, replied from his secondary account with a Hillary Clinton quote “that is proper, zero”. GCR famously gained a $10 million guess towards former Terraform Labs CEO Do Kwon, along with his bearish Terra LUNA worth prediction again in March.
Mild, who runs a prop buying and selling agency, then posted a protracted tweet thread just a few days later with a mixture of elementary and technical evaluation:
In addition to predicting the Terra Traditional worth motion could be a pump and dump – “pumped by hit-and-run builders and cynical change operators, all making the most of the hordes of retail seeking to make all of it again in a single commerce” he tweeted just a few days later that LUNC would drop 90%+ to return to its origin, or decrease.
Later that month, the LUNC worth did crash 70% to $0.000179, though nothing goes down in a straight line (the Terra LUNA collapse in Could was a black swan occasion brought on by the circulating provide hyper inflating to six.5 trillion).
For Mild’s prediction to play out – he charted a goal of $0.00004, the yearly low of the brand new Terra Traditional asset because the arduous fork, hit on June ninth 2022 – the LUNC worth would wish to drop 84% from at the moment’s worth.
LUNC Worth Prediction Tweets – LUNC Burn
Mild’s most up-to-date tweet thread centred round Binance burning LUNC tokens, and the way the 1.2% LUNC burn isn’t sufficient to justify Terra Traditional rising over $1 billion in market cap because it was introduced.
He additionally posted Coinalyze knowledge on Oct third displaying an “insane quantity of deadwood to wipe out in LUNC derivatives, $262.2 million throughout venues and devices, all levered, all pushed by a bankrupt narrative right into a promote the information occasion.”
Mild opened a Terra Traditional quick place on Oct 2nd:
“LUNC managed so as to add over $1b in market capitalization on a Binance announcement that may see just a few million {dollars} faraway from its circulating provide tomorrow.
And in the long term, that weekly burn will pattern to 0 together with LUNC’s quantity. Stuffed full quick once more.”
Extremely, Oct 2nd was once more a high, because the LUNC worth spiked again to $0.000372 however the bounce from $0.0001794 ended there.
Like his Sept eighth submit, the Terra Traditional worth has not traded increased than that day since then.
Throughout crypto Twitter circles, Mild is taken into account probably the greatest crypto merchants to comply with for worth predictions and different market evaluation.
As is GCR, who corrected predicted the Bitcoin worth was topped out again in November 2021, when the all-time excessive of $69,000 was hit and the bear market started.
We reported on how Gigantic Rebirth shorted LUNC at $0.00042 on Sept ninth, and was up virtually $4.4 million in PnL per week later.
Additionally on the day the Terra Traditional worth topped, one other notable crypto analyst Tree of Alpha in contrast LUNC to a ponzi scheme and identified transaction tax burns did not forestall SafeMoon from going to zero.
Luna Traditional Video Evaluation
Terra Traditional Options
If Mild and GCR’s Terra Traditional predictions proceed to be correct – as they’ve been to date – retail traders holding LUNC will stand to lose so much within the correction.
See our evaluations of the latest crypto presales for some excessive potential LUNC alternate options. New token presales sometimes generate the next ROI than property that have already got a multi-billion greenback market capitalization.
One of the trending cryptocurrencies heading in mid 2023 is $COPIUM, which has additionally announced a token burn – considerably bigger than the LUNC burn, it would take away 30% of the tokens from the whole provide.
