One of one of the best merchants on crypto Twitter GCR (@GiganticRebirth) is now not brief Terra LUNA, exiting his place at a LUNA worth of $2.5.
Shortly earlier than his September 14th tweet, the Terra LUNA worth dropped as little as $2.23 on Binance, earlier than bouncing to round $3. Following the sturdy bounce the Terra worth remains to be down over 30% up to now 24 hours, and has retraced most of its September bull run.
GCR’s New Terra LUNA Price Prediction?
GCR has not posted that he’s now lengthy Terra LUNA, and even holding a spot place.
Given his historical past we will anticipate he nonetheless doesn’t have any bullish LUNA worth predictions and easily anticipated a brief time period LUNA worth rally, so closed his leveraged commerce.
Terra LUNA worth chart (left) vs Terra Classic LUNC worth chart (proper) June – September 2022
GCR is thought for shorting the unique Terra LUNA earlier this yr earlier than and through its collapse, predicting it will crash as a consequence of competitors from different algorithmic stablecoins, and being ‘trash’.
Gigantic Rebirth received a $10 million guess versus Do Kwon on the LUNA worth dropping, initially prompt by Algod (@AlgodBuying and selling) in March, one other crypto dealer who on the time branded LUNA a ‘ponzi scheme’.
Last week when one other of the highest crypto merchants on Twitter @lightcrypto posted a bearish Terra LUNA worth prediction – tweeting that ‘the LUNA burn commerce is about to implode’ – GCR replied with a Hillary Clinton tweet: ‘that is proper, zero’.
GCR’s Terra Classic Price Prediction (LUNC)
Gigantic Rebirth nonetheless holds a bearish Terra LUNA Classic worth prediction – once more calling it ‘trash’ on his different Twitter account @GCRClassic.
In at the moment’s tweet Gigantic Rebirth revealed his LUNC brief place is up nearly $4.4 million in unrealized PnL. He opened that brief at a LUNC worth of $0.00042 on September ninth, posting ‘by my hand LUNA will die, once more’.
That was an ironic reference to former Terraform Labs CEO Do Kwon’s March tweet ‘by my hand, DAI will die’.
News broke this week that South Korean prosecutors have issued a warrant for Do Kwon’s arrest, inflicting each the LUNA and LUNC worth to dump additional.
Gigantic Rebirth’s Bitcoin Price Prediction
Gigantic Rebirth is margin lengthy on the Bitcoin worth nevertheless – which provides some hopium for Terra LUNA or LUNC holders. If Bitcoin rallies to the upside, the Terra crypto cash may additionally see a reduction rally.
Also see our newest Terra LUNA Classic worth prediction put up right here at Crypto News for some potential bullish circumstances for LUNC and the most recent information on the LUNC burn.
For now nevertheless neither LUNA or LUNC are featured on our checklist of the 12 greatest cryptocurrency tokens to purchase in 2022, heading into This autumn.
Compiled by Coinbold