Terra (LUNA) had a phenomenal run in 2021 and spiked close to 600% in the indices. It reached an all-time high of $103 in December 2021 and mostly traded in green throughout the year. However, its stellar run came to a screeching halt after Bitcoin plummeted to $38,000 last month and slashed half its profits.
The market crash early this year wiped away most of the gains of 2021. Several cryptos are now trading below -50% from their ATH. Even Terra is now down -50.2% for its ATH making it a prime investment during the dips.
Read Also: Market Expert Predicts Terra (LUNA) Could Challenge Ethereum in the Long Run
Is this the Right time to buy Terra?
Terra has remained steady as a rock by positioning itself under the top 10 cryptocurrency list for a year. It hardly moved out of the top 10 list and is among the most sought-after crypto in the market.
Its current price at $50 seems lucrative but the worldwide market conditions are not fully supported. Despite the market showing signs of recovery last week, it dipped today and another possible crash is not off the charts. The Ukraine-Russia conflict is adding to the selling pressure that’s eventually causing the stock and crypto market to dip.
It is advised to wait and watch how the war conflict plays out before taking an entry position in Terra. Also, each dip is valuable and can be seen as a good investment choice as Terra is now at its yearly lowest.
Terra has always been bankable crypto and has delivered good returns to both long-term holders and day-traders. Therefore, when a bull run occurs anytime this year, its price could skyrocket and deliver handsome returns.
Analysts have also predicted that Terra can uproot Ethereum in the long term and challenge its dominance.
The co-founder of Dexterity Capital, Michael Safai, is bullish on Terra and predicted that it could reach ETH levels a few years down the line. However, he stopped short of saying that Terra can overtake Ethereum in price value.
Even Dutch crypto millionaire Etienne vantKruys predicted that Terra can reach $500 in five years. ”My idea is Luna is going to be $500 in five years. That’s the horizon we’re playing with,” said vantKruys to Business Insider.
At press time, Terra (LUNA) was trading at $51.19 and is down -9.2% in the 24-hours day trade.