How to predict the future of Luna 2.0? [Rookie Tips]

Since the development of the first cryptocurrency, millions of people got hooked up in the world of crypto, and the field has continued to evolve, taking the financial world by storm. However, despite its success, there is a lack of open and formal research on digital assets’ data, which are essential in planning your next move: price prediction. Price prediction can be made in various ways, and we are going to discuss how to predict the future of cryptocurrencies such as the Luna 2.0.

Cryptocurrencies: Luna 2.0

Cryptocurrencies were first introduced to the public in 2009 when an anonymous person named Satoshi Nakamoto developed Bitcoin. Since then, more and more cryptocurrencies have started to emerge and become a part of millions of businesses and individuals worldwide, creating chaos in the global economy. The many types of cryptocurrencies act like real money, except that it is not backed by a central authority such as banks or government, unlike real money.

The field of cryptocurrency can be profitable if you know how to play your cards right. You need to have certain knowledge and skills to be successful in this field, one of which is price prediction. However, some traders go for the efficient and safer way by engaging in platforms such as Bitcoin Motion. This platform connects them to expert brokers that possess the right tools and knowledge to increase the chances of earning profits through making market predictions. You can learn more about their terms and conditions here.

Introduction to Luna 2.0

Luna 2.0 is the brand new token of the new Terra blockchain that is designed to rescue the Terra Luna ecosystem following the Luna’s greatest crash. Dubbed the Luna rebirth, the company’s founder Do Kwon proposes a new chain to replace the existing Terra network. Following its launch, all eyes of investors are now on the stablecoin’s value, which after hitting the $19 mark just hours after its launch, has again dropped a whopping 65% to $6.55.

With its current market cap of $1.4 billion, new Luna 2.0 holders are cautiously but eagerly following the Luna 2.0 price action following its release date. So, with its recent crash still at a very fresh stage, is it possible to know what will happen next for this coin? To give you an idea, check out these easy ways how to predict the future of a cryptocurrency and see if it’s worth investing in.

Luna 2.0: Predicting The Future

Analysing cryptocurrency price trends is important for traders as it signifies an indicator of if it’s the right time to enter or exit the market. It also helps traders decide whether it is the perfect time to buy, sell, or hold the cryptos to maximise their benefits. To come up with a prediction for the future of Luna 2.0 and other cryptocurrencies, there are a few factors that you need to look at:

1. Market Cap Movement

A cryptocurrency’s market cap indicates how big the cryptocurrency is. Since Luna 2.0 supports decentralised apps, its huge drop in market cap following its crash could have completely wiped out some of the projects built on its environment. The question would be whether it can return to its original market cap and its all-time high prices.

2. Price Impact

While it’s common to look at the positive side, it’s also important to look for the lows of cryptocurrency. Finding its all-time low helps you understand where Luna 2.0 is currently sitting and whether it still has room for growth. If it is sitting on its all-time low but shows a positive increase, there could still be room for a quick trade. However, it can be quite risky and must be approached with enough knowledge and skills.

3. Price Movement

The crypto market is known for its volatile nature, and the values of cryptocurrencies change from low to high and vice versa. Price movement shows the number of traders that are still actively trading on the asset. Once Luna 2.0 no longer shows price movement, it can be considered a dead stock.

Conclusion

As mentioned, Luna 2.0 is a new Terra network currency that was created to save the Terra Luna community from its crash. Despite the unstable and huge downfall of Terra Luna in recent years, investors and traders kept their faith in Luna 2.0, hoping that it would take the brighter path in the future. Learning how to predict a coin’s price is essential in making sure you make the right decisions for your career.

For publishing articles on our website get in touch with us over email or one of the accounts mentioned below.