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Terra Classic LUNC Bulls Buying more as the price falls
LUNC price is falling but is now 25th-26th September 2022 the best time to buy?
The price of LUNC is taking a nosedive hitting a low of $0.00017 shortly before the time of writing. But the price has since rebounded to $0.00020; though remains volatile.
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It is not certain how low the LUNC price could sink to following the token burn news and tax implications.
Clearly some LUNC investors expected a more positive reaction and are selling since one has not been forthcoming.
For those who still believe that LUNC has a long-term future, the LUNC crypto bulls have been buying more, loading up on cheapish LUNC tokens.
Clearly the bulls are buying on the fears of the weak hands. Inexperienced traders who are not long-term holders will be selling due to panic.
But buy orders are being filled and this selling panic of LUNC tokens will help Terra burn more coins at a cheaper price.
Therefore, the LUNC price needs the volatility in the market so that the price can creep up overtime.
There is no doubt that at the current float of over 6 trillion tokens it will take some years to grow the price since it will take years to burn trillions of tokens.
The bulls have the advantage of being able to buy LUNC tokens on the dips for a lot lower price and sell some on the way up.
And while this cycle repeats at these low prices, the LUNC bulls will be making all the money, while the paper hands will be losing money.
As stated above, this pattern helps the bulls to make money and helps Terra burn more coins.
Is now the time to buy LUNC tokens?
Well only if you believe that LUNC has a long-term future or that you can profit from such cycles, i.e., if you buy low and sell high.
The clever LUNC buyers will be adding to their LUNC holdings and keeping a percentage (maybe 50-50 split) of LUNC that will be selling when the price rises.
The LUNC price is so very low because of the almost 7 trillion tokens there are.
In this case it is likely that the price of LUNC will remain within a range under $0.00090 for some time, which gives pro LUNC traders the ability to capitalise from panic selling.
Inexperienced LUNC investors are generally those who are in their low 20s, not used to losing money – being down on trades and investments – and who thus panic sell.
If you can see a future for a stock or crypto at a higher price at some point into the future, then buying the fear when others are selling is the golden opportunity to make money trading and investing in cryptocurrencies.
Cryptocurrency market and LUNC
Overall, the crypto market is not in a bear market and a wide range of cryptos have been going down today therefore this has impacted on the price of LUNC.
Also, some stock markets are down due to rising inflation, and rising interest rates and the uncertainly this brings. This has affected the price of oil which is down too.
But this uncertainly should be good for decentralised cryptos into the long-term since alternative cryptos like LUNC are not tied to fiat currency movements.
For instance, the Pound fell against the Dollar last week but remained stable against the Euro.
The current average buy price of $0.00020 for LUNC seems reasonable given the recent burn news and that the recent average all-time low of LUNC was $0.00010.
Within the 60 range LUNC is currently trading around -58% at a discount and +100% higher from all-time lows. So, at 20 is a buyers’ market in my view for the diamond hand bulls.
LUNC Terra Classic – How High Could the LUNC Price Reach?
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