Crypto

Terra Classic Price Prediction – Is LUNC Dead, Two Experts Predict ‘Zero’

On the day Terra Classic (LUC) price hit its 2022 high, two top crypto traders correctly predicted that the bull run was over.

It was September 8 when LUNC price hit $0.000593 on Binance, and in mid-October LUNC is now trading over 50% lower, below the $0.0003 support level.

Terra LUNA Classic Price Prediction – Light Crypto

Light (@lightcrypto), which has 169,000 followers, tweeted: “I think the LUNC burn trade is about to implode, momentum just broke, lift down is a strong possibility”.

GCR (@GiganticRebirth), who has 187,000 followers, replied from his secondary account with a quote from Hillary Clinton “that’s right, zero”. GCR has won a $10 million bet against former Terraform Labs CEO Do Kwon with its bearish Terra LUNA price prediction in March.

Light, who runs an accessories trading company, then posted a lengthy tweet thread a few days later with a mix of fundamental and technical analysis:

In addition to predicting Terra Classic price action, it would be a pump and dump – “pumped by successful developers and cynical exchange operators, all profiting from the hordes of retailers seeking to claw it all back in one trade” he tweeted a few days later that LUNC would drop 90%+ back to its origin, or less.

Later that month, LUNC price crashed 70% to $0.000179, although nothing was down in a straight line (Terra LUNA’s collapse in May was a black swan event caused by the circulating supply hyper inflated to 6.5 trillion).

For Light’s prediction to come true – he has set a target of $0.00004, the new Terra Classic asset’s yearly low since the hard fork, reached on June 9, 2022 – the LUNC price would need to drop 84% from at today’s prices.

October LUNC Price Prediction Tweets – LUNC Burn

Light’s newest tweet thread this month is focused on Binance burning LUNC tokens, and how the 1.2% LUNC burn isn’t enough to justify Terra Classic increasing its market cap by over $1 billion since its announcement.

It also released Coinalyze data on October 3 showing a “an insane amount of deadwood to weed out in LUNC derivatives, $262.2 million on sites and instruments, all exploited, all driven by a bankrupt narrative in an info-selling event.”

Light opened a short position on Terra Classic on October 2:

“LUNC managed to add over $1 billion in market capitalization to an announcement from Binance that tomorrow will see a few million dollars removed from its circulating supply.

And in the long term, this weekly consumption will tend towards 0 with the volume of LUNC. Filled completely short again.”

Incredibly, October 2nd was another high as LUNC price pulled back to $0.000372, but the rebound from $0.0001794 ended there.

Like his post on September 8, Terra Classic’s price hasn’t traded higher than that day since then.

In Twitter crypto circles, Light is considered one of the best crypto traders to follow for price predictions and other market analysis.

Much like GCR, which corrected, predicted that the price of Bitcoin peaked in November 2021, when the all-time high of $69,000 was reached and the bear market began.

We reported how Gigantic Rebirth shorted LUNC at $0.00042 on September 9 and rose nearly $4.4 million in PnL a week later.

Also on the day Terra Classic price surpassed, another notable crypto analyst Alpha Tree compared LUNC to a Ponzi scheme and pointed out that tax burns on transactions did not prevent SafeMoon from going to zero.

Alternatives to Terra Classic

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 in the correction.

Check out our reviews of the latest crypto presales for some high-potential LUNC alternatives. New token presales typically generate a higher return on investment than assets that already have a multi-billion dollar market cap.

We previously looked at Tamadoge before it surpassed the Terra Classic bull run in the span of a week, rising over 1900% before a retracement.

Our last review is about the IMPT token, a carbon offset crypto project with greater real-world utility than LUNC.



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