The analyst, known in the market as Crypto Capo, claims to his 510,000 Twitter followers that Terra Classic (LUNC) is a risky investment and investors should definitely stay away.

According to the analyst, the price increase in LUNC is not up to the norm. Describing LUNC as a kind of scam, the analyst advises not to invest in the altcoin due to the imminent inevitable and massive collapse. LUNA was down 99.9% in May after the ecosystem's stablecoin lost its index to the US dollar. According to Capo's technical analysis, LUNC will experience a major crash in the coming days. LUNC is currently trading at $0.000448, up 2%. However, since the beginning of August, it has registered a 337% increase.

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Despite the warnings, Terra Classic is challenging the cryptocurrency market thanks to burning, staking, new projects and social media activity. The Terra Classic community plans to pass the 1.2% tax/burnout proposal that will be voted on September 10. If accepted, the 1.2% tax burn proposal will be implemented on September 20. The community has burned over 3.5 billion tokens and staked over 528.8 billion LUNCs so far. According to some analysts, for the LUNC rally to continue, there should not be a major collapse in Bitcoin (BTC) and Ethereum (ETH). The Fed's monetary policy will also play a major role in this process.

The analyst also updated his predictions for Bitcoin (BTC) and several altcoins. Capo predicts that BTC will rise to the $22,500 to $23,000 range after regaining support near $19,600. According to the analyst, retrieving $19,600 was critical. If BTC continues its momentum, it could reach $23,000. Analyzing the technical data, the analyst claimed that BTC could fall into the “accumulation zone” of $14,000 to $16,000 in October. Bitcoin is trading at $21,595, up 1.49% in the last 24 hours.

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Capo is also reviewing the smart contract platform Cardano (ADA). His analysis shows that Cardano will rally to $0.55 before dropping to $0.35 in mid-September. Cardano is currently trading at $0.52, up over 7% in the last 24 hours. The analyst also states that Ethereum (ETH) will follow a similar pattern. The strategist's charts show that ETH will rally to $1,800 before dropping to the $1,350 range. ETH is currently trading at $1,760