Bitcoin is struggling to stay afloat and has been quite volatile since the beginning of 2018. Experts say that bitcoin remains undervalued but can still skyrocket in value, especially if it gets rid of its volatility.
The “Bitcoin stays under $30K as LUNA gains 600% during ‘insane volatility’” is a cryptocurrency that has been on the rise. However, it experienced some “insane volatility.” Read more in detail here: is terra a good investment.
As traders looked forward to a reasonably steady weekend, Bitcoin (BTC) failed to recoup $30,000 on May 14.
1 hour candle chart of BTC/USD (Bitstamp). TradingView (source)
Longs on Bitfinex are gaining traction.
BTC/USD remained below $30,000, which has now become resistance, according to data from Cointelegraph Markets Pro and TradingView.
The pair had gotten close to $31,000 before retreating, and the conclusion of the regular market trading week was followed by further warnings that a new macro bottom was on the way.
#Bitcoin – Looks like we might get the inverse H & S before going into the weekend. Hoping to see this 4h candle hold and see it push up. Then I’ll move stops in profit and let it ride during the weekend. 2% risk, 2% stop loss. pic.twitter.com/lxRuk3M43G
May 14, 2022 — IncomeSharks (@IncomeSharks)
As the dust cleared, not everyone remained on the sidelines. Long leverage on the key exchange Bitfinex continues to rise, having previously reached all-time highs.
“Another day has gone, and the Bitfinexors are still stocking up as if a pistol is pointed at their heads,” Johal Miles, a pundit, said beside a graph depicting the pattern.
Terra plans elicit frantic LUNA actions.
On the day, however, the emphasis was on Terra’s LUNA coin, a Blockchain technology.
Related: BitKwonnect? Terra’s token supply is inflated 3,500% overnight due to the ‘Luna Brothers’ event.
After losing almost half of its value in a week, LUNA saw a little return compared to its all-time highs around $100, but it was extremely profitable for short-term traders.
LUNA rose 100 times from its floor price after reports that developer Terra had plans to “revive” its ecosystem, despite its supply growing to 6.9 trillion tokens.
Many people were taken aback by the price movement.
(Only a few more hundred times to go back to $1)
May 14, 2022 — Luke Martin (@VentureCoinist)
“The volatility on $LUNA is simply wild,” Michal van de Poppe, a Cointelegraph writer, said, adding that it was a “perfect weekend to scalp trade a bit.”
5-minute candle chart for LUNA/USD (Bitfinex). TradingView (source)
Despite the fact that trading on the major exchange Binance had already been suspended, LUNA/USD remained an extremely dangerous portfolio addition, with values fluctuating dramatically from minute to minute and across trading platforms.
Those that bought in often over the week, on the other hand, saw near-total losses on their holdings.
Luna isn’t a buy and hold for me right now; it’s a high-risk in-and-out play. I have no idea what will happen with it.
If you’re attempting to exchange it, be cautious!
May 14, 2022 — Altcoin Gordon (@AltcoinGordon)
LUNA/USD was trading at At the time of writing, LUNA/USD traded at $0.027 on Bitfinex, having risen to $0.034 earlier in the day — 593% above the week’s all-time lows of $0.0049..027 on Bitfinex at the time of writing, up from At the time of writing, LUNA/USD traded at $0.027 on Bitfinex, having risen to $0.034 earlier in the day — 593% above the week’s all-time lows of $0.0049..034 earlier in the day – 593 percent higher than the week’s all-time lows of At the time of writing, LUNA/USD traded at $0.027 on Bitfinex, having risen to $0.034 earlier in the day — 593% above the week’s all-time lows of $0.0049..0049.
The author’s thoughts and opinions are completely his or her own and do not necessarily represent those of Cointelegraph.com. Every investing and trading choice has risk, so do your homework before making a decision.
The “wluna news” is a cryptocurrency that has gained 600% in the last few weeks, but Bitcoin has stayed under $30K.
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