Luna Classic Rally!

SpyderCall wrote a column · Sep 9, 2022 11:49

I've been waiting a while for this rally to happen.

There are many different investment strategies that investors use. One strategy is to buy when the price is low. Some investors take the strategy to the extreme and begin buying after a major crash. The idea is that there is only upside after a major crash and these investors truly believe in the asset over the long term time frame.

That would be the case with the crash of the cryptocurrency Luna. After the cryptocurrency crashed and lost essentially all of its value it resulted in some cryptocurrency exchanges going bankrupt. Many of them halted trading for several days or weeks. It was a huge fiasco. When trading resumed for this cryptocurrency many holders of Luna found out that they now are holding Luna classic, Luna 2.0, and Luna Terra. Basically the cryptocurrency split into three separate currencies and any holders received the three cryptocurrencies. Well at least that is what happened to me. I made a block purchase after the crash in Luna. You can see those three crypto assets in the picture below.

Until recently most trading platforms have frozen the trading of all of the Luna cryptos until liquidity returned into the crypto assets. Once the trading resumed one of the three cryptocurrencies started rallying while the others remain stagnant. You can see in the chart directly below that Luna classic has been on a strong rally as it has increased in price by over 90%.

In the chart directly below you can see that in the past month Luna Classic is up over 400%.

I have seen the cryptocurrency market crash before. And every time cryptocurrencies crash many of them will still make new all-time highs in the future. I'm not sure if that will happen for Luna Classic but this strong rally can not be ignored. If you truly believe in a cryptocurrency and it has a big sell-off or a crash like Luna then that would be the best buying opportunity for the cryptocurrency. Only if you truly believe in the crypto asset.

$Terra (LUNA.CC)$ $Bitcoin (BTC.CC)$ $Ethereum (ETH.CC)$ $Polygon (MATIC.CC)$ $ETC (ETC.CC)$ $Dogecoin (DOGE.CC)$ $XRP (XRP.CC)$ $Ether RR Futures(JAN5) (ETHmain.US)$ $CME-Bitcoin RR Futures(JAN5) (BTCmain.US)$

$SPDR Dow Jones Industrial Average Trust (DIA.US)$ $Invesco QQQ Trust (QQQ.US)$ $iShares Russell 2000 ETF (IWM.US)$ $VIX Index Futures(JAN5) (VXmain.US)$ $Powershares Exchange Traded Fd Tst Db Us Dollar Index Bullish Fund Etf (UUP.US)$ $SPDR S&P 500 ETF (SPY.US)$ $iShares 20+ Year Treasury Bond ETF (TLT.US)$ $SPDR Gold ETF (GLD.US)$ $iShares Silver Trust (SLV.US)$ $Crude Oil Futures(FEB5) (CLmain.US)$ $Ishares Iboxx $ High Yield Corporate Bond Etf (HYG.US)$ $Ishares Iboxx $ Investment Grade Corporate Bond Etf (LQD.US)$ $Copper Futures(MAR5) (HGmain.US)$ $Hang Seng Index (800000.HK)$ $CSI 300 Index (000300.SH)$ $SSE Composite Index (000001.SH)$ $S&P/ASX 200 (.XJO.AU)$ $FTSE Singapore Straits Time Index (.STI.SG)$

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SpyderCall

Trade the trends via technical, fundamental, and macro analysis. Day Trades, swing trades, and long-term investments.

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