As the crypto community eagerly anticipates the upcoming Bitcoin halving scheduled for April 2024, all eyes are on Terra Classic (LUNC), which has been making waves with its remarkable performance in recent weeks. At the time of reporting, LUNC is trading at $0.0002397, showcasing an impressive 8.5% surge in the last 24 hours, a staggering 104.73% increase in the past week, and an astonishing 256% surge over the last month.
Bitcoin Halving
The Bitcoin halving, an event occurring every four years that reduces the rewards for mining Bitcoin, has historically been a precursor to substantial price surges for Bitcoin and other cryptocurrencies. To understand the potential impact of the upcoming halving on LUNC’s ongoing surge, insights were sought from Google Bard, Google’s AI Large Language Model (LLM), renowned for its ability to generate insightful responses.
According to Google Bard, the historical trend suggests that Bitcoin halvings tend to trigger significant price increases across the crypto market. The reduction in Bitcoin supply exerts upward pressure on its price, creating a ripple effect that influences the entire market. This phenomenon, often described as a “rising tides lift all boats” effect, is expected to benefit Terra Classic (LUNC) as well.
Bard Predicts LUNC’s Gaining Post-halving is not certain
However, Bard notes that the extent of LUNC’s gains post-halving is not guaranteed and depends on various factors. The development of the Terra Classic ecosystem, overall market sentiment, and unexpected events are among the key influencers. Bard presents three scenarios for LUNC’s price post-Bitcoin halving:
- Pessimistic Scenario: In a worst-case scenario, where the Bitcoin halving has a limited impact or LUNC faces significant challenges, Bard predicts LUNC’s price could remain below $0.0005.
- Moderate Scenario: A more realistic prediction places LUNC’s price between $0.001 and $0.0015 according to Bard.
- Optimistic Scenario: If the Bitcoin halving sparks a significant bull market, coupled with strong development and adoption for LUNC, Bard envisions a potential price reaching $0.002 or even $0.003.
Despite the varying scenarios, Bard expects LUNC to gain from the Bitcoin halving, even in the pessimistic scenario. Notably, ChatGPT also recently predicted that LUNC could surpass $0.0003 by December 31, further fueling expectations for substantial gains in the wake of the Bitcoin halving. As the crypto world counts down to this highly anticipated event, Terra Classic enthusiasts are on the edge of their seats, eager to witness the potential impact on LUNC’s trajectory.