Bozokcoin, a famous cryptocurrency analyst in Turkey, talked about the collapse of Terra (LUNA) and Bitcoin (BTC) in a recent tweet, which has been the subject of many news with its latest drop. Meanwhile, a new statement came from Terra. Here are the details…
Bozokcoin: If “that news” comes, Bitcoin will rise above $ 33,000
Bozokcoin, conveying his latest thoughts on the red market, amazes people with its sharp fall in this red. He also talked about Terra, who left him in it. The analyst said that LUNA is plaguing the market, currently Bitcoin is stabilizing but altcoins are crashing. As we reported on Kryptokoin.com , the prices of Luna (LUNA) and its related stablecoin TerraUSD (UST) have been in free fall for a while. Because the UST, which should remain stable to the US dollar, fell below 1 dollar.
Bozokcoin states that with the sharp fall of LUNA, there are those who opened leveraged transactions and many investors experienced a serious loss. He also draws attention to the large number of investors who have reset their capital. The analyst thinks that LUNA may experience an uptrend if the bailout news for LUNA comes, and this situation will positively affect the market. He states that if such news comes, altcoins can rise by 20-30 percent, and BTC can rise above $ 33,000. At the time of writing, BTC is changing hands at $31,000.
Luna Foundation clarification on recovery plan
According to media reports, three sources with knowledge of the process said that Luna Foundation Guard’s embattled UST stablecoin’ He said he has reached out to major crypto investors in hopes of raising over $1 billion to support his startup. The algorithmic stablecoin fell as low as $0.61 on Monday. Algorithmic stablecoins like UST are intended to be pegged one-to-one to the price of a base fiat currency like the dollar. However, UST fell as low as $0.61 on Monday.
According to sources, the group is now looking to raise fresh capital from some of the industry’s largest investment firms and market makers. Allegedly, the deal currently being negotiated offers investors the opportunity to purchase LUNA tokens at a 50 percent discount, but these tokens will be subject to a two-year vesting program.
