Terra Luna Classic has increased 3-fold in the last 2 and a half months, is it time to buy Terra Luna Classic? or is Terra Classic a good investment?
Terra Luna Classic has RISEN by 125% in the last 10 days. Therefore, is it a purchase?
Is Terra Luna Classic a purchase or a sale? Our analysis is that it is a BUY
Two main reasons why Terra Luna Classic is a Buy
- Terra Luna Classic has pumped twice in the last 90 days, pushing its price 3 times higher in that period.
With the on-chain burn likely to launch next week, Luna Classic could pump up again.
2. Even though trading volumes have declined in recent days, LUNC has remained above $0.00022. This shows a certain level of strength and if Luna Classic were to maintain these levels for a few days, it could pump again in two weeks.
Is Luna Classic a good investment?
Since Luna was renamed Luna Classic, the LUNC community has been working to push the price of Luna Classic higher, but one issue Luna Classic is facing is supply. Luna Classic currently has a huge supply and the only way the price of Luna Classic can rise higher is by burning a maximum number of Luna Classic coins.
Luna Classic has a strong community and they worked together to burn the maximum of LUNC coins. According to data from Statista, there has been a huge increase in the rate of combustion. Added to it are new burning mechanisms integrated into multiple centralized exchanges that facilitate LUNC burning.
However, due to the huge offer, the price of Luna Classic remains well below $1. Now speaking of “Luna Classic is a good investment”, one should remember that Luna was once one of the most popular cryptocurrencies, but within 2 days Luna collapsed from over $ 90 to less than $ 1. Therefore, it is very advisable to do your own research before making any investment. The cryptocurrency market is currently very volatile and there are greater chances of making losses.
Therefore, you should never invest more money than you can afford to lose.
Is Terra Luna Classic a purchase or a sale? What are the risks?
- Terra Luna Classic depends heavily on the Community to put its shares together, but it needs other investors to move the price higher. With on-chain burn being launched on September 13 (?) there may be another pump. On the other hand, with ethereum Merge also scheduled around that time, it is possible that investors will want to trade other Altcoins at that time.
- LUNC is following the same patterns as 2 months ago, when it maintained a constant level near peak and then dropped 60% less over a 4-week period. Therefore the risk of it falling by 50-60% less is quite high. All the more so since the Community has yet to resolve the wider purpose of consumption and trade of the currency. Burning is not enough.
Therefore, those who have a large portion of their investment in Terra Luna Classic are better off reallocating elsewhere. Diversifying the allocation will reduce the risk of loss by 100% without eliminating the possibility of very high returns. But those with zero allocations should certainly look at allocating a small portion with the assumption that 100% loss is possible if not certain.