Bollinga band and RSI work for both long term and short term trading, but I am not that sure about long term because I have preferred to use long term prediction for that, which means if the price of bitcoin has decreased to a price very low, I can buy, wait for the price to rise very well and sell. But for short term, I have used these two indicators and both works well with bollinga band bringing effective result. It works for 15 minutes and 1 hour candle sticks very well, but the shorter the time the shorter the best time to leave the market by closing the position opened.
It's Bollinger bands not Bollinga band. In addition, Bollinger bands can support your trading but if you turn it off and on, you will see price will stop at resistance or support. Resistance can flip to become support and support can flip to become a new resistance. Bollinger bands will give you upper and lower bands around resistances and supports. |
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I did see it a few days ago. but usdt has much longer experience than UST so I don't think USDT will collapse at this time like UST. so the worries of USDT users have now subsided. even USDT has been in crisis a few times and has even been hacked in the past. but they always get through tough times. and get back up. Armed with this experience, I think for now there is nothing to worry about USDT. even though I still saw the USDT sell-off increased yesterday and many have switched to BUSD. but now it looks stable and balanced again.
UST and USDT are built on different collateral. With USDT, it is fiat-backed stable coin. With UST, it is crypto and algorithm backed stable coin. The part of algorithm makes it very vulnerable to collapse. BUSD is similar to USDT that is fiat-backed stable coin. So no matter what happen on the market, stock to crypto, they are safe because one dollar is one dollar forever. It is just their purchasing power can be lost by inflation only. USDT and BUSD don't lose its peg like UST if their stablecoins will continue to be 100% backed by fiat. |
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Projects can migrate to a new chain with support from core team behind a new chain but it takes time and so many resources as well as efforts. It is not easy to be said.
LUNA can be hard-forked and separated to 2 chains: LUNA Classic and LUNA (new one) but to develop and rebuild the two ecosystems won't be easy. Especially the market is in bear trend. People are fearful and have less energy to work. If they look at projects that are in troubles, legal issues, they will choose to do easy thing, just keep watching, and staying outside.
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this is my take here. do kwon is just saying bs things just to get out of this chaotic situation. i don't think he can get the trust of his investors again. but the problem of suing do kwon is it would take resources also from the individuals who pursue this action, and are they ready to face that they may possibly lose as luna team can find a loophole to get out of this terrible situation? this is the problem of chasing a crypto project. the chance of losing is high because the team knows how to defend themselves because they know their code.
Only investors who have their money in UST or LUNA will have to unintentionally trust Do Kwon. They think they should continue their trust on Do Kwon leadership in order to have some recover for their loss. For outsiders, it is hard to convince them to trust Do Kwon and his leadership after his terrible crisis management. They can create pump games and investors will have lost their capital in future. To trust, for me, it is impossible. |
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I don't think so. I couldn't find anything about delta.exchange launching defi. According to data, they were in business since 2018 and there were no signs of rebranding during that time either.
Perhaps you have an exact link of the suspected exchange related to the failed defi?
I search on Coinmarketcap and find Delta exchange with only one trading pair (given my Coinmarketcap SOL / USDT) When I visit the exchange, there are more trading pairs so it seems the exchange has very low trading volume on most of their trading pairs. A little bit more pairs on CoinGecko for Delta spot trading |
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I hope the LUNA team does the right thing in the end in order to help restore crypto's reputation worldwide. Otherwise, it'll take a long time before investors gain confidence in the entire crypto/Blockchain space. Right now, the Terra community and validators are divided on what the project's future direction will be. Some will support the fork, while others will support burning the existing LUNA token's supply. What will happen by the end of the month, is a mystery. A re-branding might be necessary in order to bring back people's trust.
They did bad things at start of the crisis and during the crisis, they handled it very bad. I don't trust that they can handle it well after the fork. They might create pump games for new LUNA after that but it might not be a successful new project. People want to gamble, there is a new game for them with new LUNA If you buy LUNA right now, you'd be risking your money as it could fade into oblivion at a very fast pace. I'd just wait and see what happens in the next few days in order to make a decision. As long as decentralization wins, nothing else matters. Just my thoughts  LUNA Classic will be in mud after the fork. Who will be responsible for its development? The ecosystem will be in mud and it will be like a walking dead project after the hardfork. It won't die and might have pump games like Ethereum Classic but waiting for it is too long. It will take too long to see pump games. |
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I think Luna Classic will become useless for now. As we all know LUNA is connected always in UST before.
I think the Luna Classic will be forgotten and abandoned and the new LUNA will be the new one and main focus, they will fix all the problems that happened on the old LUNA and improve it.
Will LUNA (new LUNA) be related to UST? As Do Kwon and Terra team announced, they won't bind new LUNA with UST. I think both LUNA and LUNA Classic will not relate to UST but because the core team move to new LUNA, the future of LUNA Classic is very gloomy. It will be like Ethereum Classic that does not have too good development many years since the hardfork after Ethereum DAO Hack. Even Do Kwon and Terra did not mention about UST, do you think they try to rebuild a new LUNA and pump it to cover their loss in UST and compensate their investors. |
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I know Bitcoin is in the bottom area and it is good enough for real bitcoiners to accumulate discounting Bitcoin.
Bottom can be $20,000 or $15,000, we can not say what is the bottom now. You are right that $15,000 or $20,000 is not a real big issue if we buy it and hold for the next halving in 2024, only 2 more years.
History say when Bitcoin goes in bear market, it takes 2 years go get out so I think we will see bottom in 2023, in quarter 1 or quarter 2 of 2023.
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It would be better for them to put their money in a new project instead of such behavior, easy solutions will not build a good project and claim that the reason for failure is the stability algorithm is just burying heads in the sand. According to proposal/1623 ---> https://station.terra.money/proposal/1623 they still have Total voted 153,855,456 (40.84%) with No with veto 19.65% Based on the amount of money that was printed, new users have the right to vote and their voting power is much higher than the power of the old users due to the random printing that occurred. If this is true then such a vote will not be approved, or am I missing something? Maybe new investors during and after the crash don't know how to join the vote. They simply bought, stucked and hold $LUNA on exchanges. About the vote on the proposal, they are only keep watching. I see the votes on No with veto is high enough about 20% that shows how disappointed voters are against the fork. However it is not enough to stop the fork if others don't vote No. That's the question, and what will happen to Luna classic if still has a purpose or is just a token for pump and dump trade. They might have a plan for Luna classic in the future but since they are focusing on the new version and also gaining the trust of investors since a lot of people have been affected a lost their life savings.
And, since the portion of the token distribution will not benefit the people after the attack and we don't what will gonna happen to the value of the Luna classic after they have released the new fork.
Other blockchains try to send invitation to projects that are running on Terra to switch to their chains and ecosystem. They take advantage of the Terra crash and quickly attract projects, developers to their ecosystem. From Polygon to Binance Smart Chain, they are doing it. The future of Luna Classic if it occurs after the fork, will be unclear for now at least. I don't think it will die but unclear who will take over it and how it will keep going with lively developments. |
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They are trying to create a new game with LUNA and try to sink the current LUNA that will become LUNA Classic (LUNC) if the current vote says YES.
People can think two tokens will be similar to Ethereum and Ethereum Classic but the future of LUNA Classic is unclear. It won't die but how it will be developed if the core Terra team leave and move to LUNA (a new one). I think the community will figure out way to do it but it won't be easy and take many time.
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I think he's trying to get people to short him. The protocol has pretty much the same mechanics as Luna / UST.
The only difference is Justin Sun has a LOT more money than Terra. They're small fish.
The problem is not how much money a project has. Matter is if your product concept is wrong that results in a broken financial model for your project. It in turn will be a deadly weakness of your project and at a right time, your project will be compromised to death because of that weakness. The technical concept for USDD from Justin Sun and TRON is the same as of UST and LUNA from Terra. From the bailout of Terra, I don't believe investors (institutional or retail) will mind to spend their capital into USDD, if it is built on as a similar algorithmic stable coin of $UST. |
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it literally is more bad than shiba inu, in the case of shiba inu it’s reaching another height of valuation because of innovation, it started out from low price and then climbing up, but with luna it just lost its price like a literal shitcoin.
you just never gonna find this kind of thing happening in shiba inu, instead its just gonna happen in luna because its worse than a shitcoin.
at this point you better off investing in shiba inu because guess what it’s just better in every aspects, at least shiba doesn’t scam you to oblivion.
Panic went away and now you can say Luna will not die. For recovery or pumps, you will have to wait for a long time. Because whales were out and they will wait for a long time in order to start their accumulation again. Without whales, LUNA or LUNA Classic can not be pumped. The game is created and manipulated by whales, not by retail investors or speculators. I agree that you can call LUNA as LUNA INU if you want but I see it deserves that name. Altcoins can die easily and another altcoin has terrible death is CLAMS: https://coinmarketcap.com/currencies/clams/. It was a top altcoin in 2017 but now, delisted and no trading volume. I witnessed terrible crashes of CLAMS in 2017 but honestly what happened with LUNA is blowing my mind. |
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What I learned from the last bear market are
- Most of altcoins will have more than 99% loss
- Many of altcoins will not be able to recover to their all time highs in a new bull market
- A few of altcoins will survive through bear market and if they continue to develop products well enough, they will be able to not only touch their all time high but also make a new all time high: Ethereum, BNB, WAVES are very good examples. They are altcoins from last bull and bear market.
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Bitcoin is 21M in total supply
Gold is infinite in total supply
Scarcer or not, people can do the simple comparison between them. In addition, it is more convenient when you use Bitcoin for transactions, payments, etc. It is portable too with your wallet, a backup in a notebook, paper sheet, steel sheet, USB, hardware wallets ...
You can not carry your gold bars around and say it is safe for your gold bars as well as your life.
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Why not if people can use very cheap fee at 1 satoshi/ vbyte. To have it, they must use non custodial wallet, not exchange wallet (custodial).
In addition, they can use Lightning network that can help them to make transactions with fees are in peny.
The growth of Lightning Network since 2020 is a good signal for Bitcoin as a payment method. Important to note, fee is not what most important, secured, health of a network is most important. With Bitcoin, you have it, not with altcoins.
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You can always sell it to stable coins or fiat currencies if there is enough trading volume. The mentioned coins are good enough in aspect of trading volume.
Let's be careful when you choose what stable coin to store your money. I read the advice from Peter Brandt months ago that if he chooses between stable coins and fiat currencies, he will choose fiat currencies. I think he is right after the death spiral of $UST.
We know fiat currency has inflation but at least they won't vanish in the air like $UST.
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Will whale holders lose all money they invested in to $UST or $LUNA because Luna Foundation Guard prioritizes to compensate smallest investors first with the left-over of their reserve?
Will whales, exchanges let it die after the compensation and see their own money vanish?
Will exchanges want to see the death of $UST and $LUNA that potentially triggers a more strictly regulation from governments and a superb bear market? Then they will lose more income from crypto market
To remedy the market, they will cooperate and rescue Terra for their own benefit.
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I think, given the current drop in bitcoin price, the potential for bitcoin price to drop to the $24k-$27k area is very likely in the next few weeks. Moreover, the decline in prices in the past week was caused by massive selling, and many experienced panic selling due to sluggish world stocks and large interest rate hikes.
In the time of massive fud, there will be risk to see Bitcoin drop to $24k or even terrible crash to lower than $24k, $20k or lower like what we had with March 2020 crash. I see crashes are great for a healthier market. Gamblers will be wiped out by crashes. I am sorry for anyone who have loss in crashes but if they gamble, they can not avoid to be killed. Bitcoin and the market need real investors to rise higher, not gamblers. In addition, gamblers are only traders or so-called investors but also trending miners. They will capitulate when price is too low and stay in low range a long time. When miner capitulation occurs, we will find a bottom from which we will move up. |
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I don't know if Luna can repeat its ATH in increasing her price as high as yesterday because Luna lost the trust of investors and it seems they have forgotten about Luna and left her.
If it touches it ATH, it will be a miracle come back. Even if it can achieve it, it takes many time, months or 2 years. But at its current price, Luna can become a meme coin and I'm afraid it will be a coin pump that is carried out by a group of groups. But if you believe Luna can increase the price back to $1, that would be a huge advantage to people who are still hopeful and have already bought Luna in bulk. If you don't have a problem waiting for the price to increase again, you can still hold onto Luna while waiting for the time to come.
The big issue with $LUNA now is how it will survive first. It need to be supported by a sensible revival plan from Terra team. If they can not resolve it, can not burn token, it won't go to any far from today price. Even more shit might happen because when people lose trust, they will panic sell. |
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