Terra units rose to a new record high on Friday, and the general consensus is that this will be the beginning of a sustained period of growth. As we watch today’s price action, it seems as though lunar may follow the pattern of other recently successful cryptocurrencies, such as Ethereum and Ripple.
Trying to piece together where Luna could go next is already an extremely difficult exercise with no clear answer that can only be created with time. With this in mind, I have decided to analyze Terra Price Predictions for recent prognostications made by members of our community and our betting data from OpenTrade. This article, however, is not intended to be a prediction. Instead, it is an analysis of the available data and the trends that seem to be emerging.
From looking at the data,
We see that Terra Price Predictions have fallen into a reasonably consistent trendline since April. The first three predictions were extremely ambitious, but as time went on, these projections became more realistic. This does not mean that I believe the most recent prediction is entirely accurate, for there has been a lot of market movement since it was made. However, I have reason to think this price prediction will be closer to reality than not.
I have also included a red line in the chart above to show where the Terra Price Predictions made in late 2017 are located on this price trend. You can see that at the end of last year, predictions made during that time started to level off and become more realistic than those that occurred earlier.
How Do the Experts Feel?
Hearing the words of so many experts can be an incredibly informative way for us to get an idea of where the market is heading. As you can see in the chart above, there are large gaps between each prediction. This means that different experts value Luna differently and this could lead to a wide range in price speculation.
We are currently seeing a small rise in the number of predictions as time goes on. This is because some experts have started writing up new predictions, while many others are expecting to continue their periodic reports.
What Does Our Data Say?
Because of the fact that we can see clearly where the price is headed, we can take a look at our data for more information about what will likely happen. The racing odds for Luna are an especially informative resource because users of OpenTrade can bet on future price predictions. With this in mind, I dug through our data to find where all Luna betting was being conducted so that I could acquire a sense of where users think the price is going to go.
The odds in the chart above are from OpenTrade and show how likely it is for bets to be placed on each price prediction.
Why do you say that Luna will go to $2.00?
Clearly, this is a long-term prediction, but I feel that if we keep the cryptocurrency going in the direction that it is currently in, then it may be a very popular price at which to sell. You see, I believe that the last few years of growth have been just enough to keep Luna alive and well. With this in mind, I think it will be a very quick jump from $0.75 to $1.25 or from anywhere between $1.00 and $2.00 if the market goes as far as some predict.
It seems that more and more people are predicting that we will go to $2.00, and I think that this is based on the fact that it is the same price as Ripple and Ethereum. There is nothing wrong with being a follower of other currencies, but if you want to make your own predictions, then you should try to think differently than how they create their progressions. I do not necessarily agree with their predictions, but they do have a lot of money backing them because they are making money by using those predictions.
