TL;DR Breakdown
Luna classic has soared over 200% in the last two weeks.
Bitcoin prices have gone down in the same period.
There is an on-going inverse relationship between LUNC and BTC, which is similar to gold and the stock market.
Terra Luna Classic (LUNC) has jumped back to the headlines this week but bearing positive news this time. The algorithmic altcoin has soared over 200% in the last 7 days, reaching its highest value in the last 3 months.
As the illustrious altcoin starts its slow climb from zero, a unique trend has been spotted. It seems that LUNC prices pump every time Bitcoin prices dip, and it’s not a new trend. The inverse relationship between LUNC and BTC goes back almost two years, even when Luna was at its peak.
So, it begs the question, is LUNC the gold of the crypto industry? Let’s explore.
Exploring the relationship between Luna Classic and Bitcoin
Just six months ago, Luna was one of the top 10 biggest cryptocurrencies in the world. In April this year, it...
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