The Bitcoin halving, an event that plays out every four years and halves the rewards for mining Bitcoin, is coming in April 2024. This event is currently the most anticipated in the crypto community, as it historically precedes massive price surges for Bitcoin and other cryptocurrencies.
Terra Classic (LUNC) has been showcasing outstanding performance since late November. At press time, LUNC is trading at $0.0002397, up 8.5% in 24 hours, 104.73% in one week, and an astonishing 256% in the last month.
Read Also: Terra Classic Soars to New Heights. How Long Can LUNC Hold the Bullish Momentum?
To gain insight into the likely impact of the Bitcoin halving on LUNC’s continued surge, we consulted Google Bard, Google’s AI Large Language Model (LLM), known for its ability to generate insightful responses to queries.
Impact of Bitcoin Halving On Terra Classic (LUNC)
Google Bard highlighted the effect of the Bitcoin halving on the crypto market, writing, “Historically, Bitcoin halvings have led to significant price increases for Bitcoin and other cryptocurrencies. This is because the reduction in supply creates upward pressure on price.”
Bard expects the upcoming Bitcoin halving to have an impact because of the increasing institutional adoption of Bitcoin. It also points out that Bitcoin’s price increase often pulls the entire crypto market up with it, including Terra Classic (LUNC). It describes this phenomenon as a “rising tides lift all boats” effect.
However, before predicting LUNC’s future price, Bard states that the impact of the Bitcoin halving on LUNC is not guaranteed. It listed factors that can influence the extent to which the digital asset benefits, like the development of the Terra Classic ecosystem, the overall sentiment of the crypto market, and unexpected events.
We are on twitter, follow us to connect with us :- @TimesTabloid1
— TimesTabloid (@TimesTabloid1) July 15, 2023
Read Also: ChatGPT Sets Terra Classic (LUNC) Price For December 31, 2023
Terra Classic (LUNC) Future Price
Bard presents three scenarios for LUNC’s price after the Bitcoin halving.
Pessimistic scenario: In the worst-case scenario, Bard predicts that if the Bitcoin halving has a limited impact or LUNC encounters significant challenges, its price could remain below $0.0005.
Moderate scenario: For Bard, a more realistic prediction would place LUNC’s price between $0.001 and $0.0015.
Optimistic scenario: According to Bard, if the Bitcoin halving leads to a significant bull market and LUNC experiences strong development and adoption, its price could reach $0.002 or even $0.003.
Whatever route LUNC goes, Bard expects it to gain a little from the Bitcoin halving, even with the pessimistic scenario. ChatGPT also recently predicted that LUNC would surpass $0.0003 by December 31, so the digital currency could be on track for massive gains after Bitcoin halving.
Follow us on Twitter, Facebook, Telegram, and Google News.
