Terra Classic Price Prediction – Is LUNC dead, two experts predict “zero”
On the day the Terra Classic (LUNC) price hit its 2022 peak, two of the top crypto traders correctly predicted that the bull run was over.
It was September 8, when the LUNC price hit $0.000593 on Binance, and as of mid-October, LUNC is now trading over 50% lower, below the $0.0003 support level.
Terra LUNA Classic Price Prediction – Light Crypto
Light (@lightcrypto), who has 169,000 followers, tweeted: “Think LUNC burn trade is about to implode, momentum just broke, lift down is a big possibility”.
GCR (@GiganticRebirth), who has 187,000 followers, responded from his secondary account with a Hillary Clinton quote “that’s right, zero”. GCR famously won a $10 million bet against former Terraform Labs CEO Do Kwon with his bearish Terra LUNA price prediction back in March.
Light, who runs a prop trading firm, then posted a long tweet thread a few days later with a mix of fundamental and technical analysis:
In addition to predicting the Terra Classic price action would be a pump and dump – “pumped by hit-and-run developers and cynical exchange operators, all of whom take advantage of the hordes of retail traders who want to get it all back in one trade” he tweeted a few days later that LUNC would fall 90%+ to return to origin, or lower.
Later that month, the LUNC price crashed 70% to $0.000179, although nothing goes down in a straight line (the Terra LUNA collapse in May was a black swan event caused by the circulating supply hyperinflating to 6.5 trillion ).
For Light’s prediction to pan out — he mapped a target of $0.00004, the annual low for the new Terra Classic asset since the hard fork hit on June 9, 2022 — the LUNC price would have to fall 84% from today price.
October LUNC Price Prediction Tweets – LUNC Burn
The latest in light tweet thread this month is all about the Binance burn of LUNC tokens and how the 1.2% LUNC burn isn’t enough to justify Terra Classic’s over $1 billion increase in market cap since it was announced.
He also posted Coinalyze data on October 3 showing a “insane amount of deadwood to wipe out in LUNC derivatives, $262.2 million across venues and instruments, all delivered, all fueled by a bankruptcy narrative to sell the news event.”
Light opened a Terra Classic short position on October 2:
“LUNC managed to add over $1 billion in market cap on a Binance announcement that will see a few million dollars removed from the circulating supply tomorrow.
And in the long run, the weekly burn will trend to 0 along with LUNC’s volume. Full card again.”
Amazingly, October 2nd was another top, as the LUNC price rose back to $0.000372, but the retracement from $0.0001794 ended there.
Like his September 8 post, the Terra Classic price hasn’t traded higher than that day since then.
Across crypto Twitter circles, Light is considered one of the best crypto traders to follow for price predictions and other market analysis.
So is GCR, which corrected predicted that the Bitcoin price would peak back in November 2021, when the $69,000 record was reached and the bear market began.
We reported how Gigantic Rebirth shorted LUNC to $0.00042 on September 9th and was up nearly $4.4 million in Pnl a week later.
Also on the day the Terra Classic price peaked, another notable cryptoanalyst The alpha tree compared LUNC to a ponzi scheme and pointed out that transaction tax burns did not prevent SafeMoon from going to zero.
Terra classic options
If Light and GCR’s Terra Classic predictions continue to be accurate – as they have been so far – retail investors holding LUNC stand to lose a lot from the correction.
See our reviews of the latest crypto pre-sales for some high-potential LUNC options. Pre-sales of new tokens typically generate a higher return than assets that already have a market cap of several billion dollars.
We previously reviewed Tamadoge before it outperformed the Terra Classic bull run within a week, rising over 1,900% before a retracement.
Our latest review is of the IMPT token, a carbon offsetting crypto project with greater real-world utility than LUNC.
