Re: Will LUNA's downfall scare away investors from the crypto market?
This past week has been all about LUNA's downfall in price and how UST lost its peg at a very fast pace. Many investors lost their money as the cryptocurrency went from being worth around $80 to just $0 in a few days. There's a lot of FUD surrounding crypto right now, especially with Terraform Labs' inability to restore the peg. If LUNA doesn't recover, this could lead the whole crypto market towards another direction. As promising as crypto/Blockchain tech is, things like this greatly damages its reputation.
Do you think LUNA's downfall will scare away investors from the crypto market? If not, why? Is there light at the end of the tunnel for the whole crypto/Blockchain industry? Your input will be greatly appreciated. Thanks.
Do you think LUNA's downfall will scare away investors from the crypto market? If not, why? Is there light at the end of the tunnel for the whole crypto/Blockchain industry? Your input will be greatly appreciated. Thanks.
In my case, I did not invest in Luna and I'm an old investor who has already seen a lot of bad things although this is the worse in one coin, that doesn't stop me from believing and investing in Cryptocurrency I know that the market is highly volatile and old investors like me will not be sway with what happened to Luna, I cannot speak to other investors but we all made profit from one coin to another one time or another and one setback will not stop us.
Maybe new investors will have a second thoughts but this is not Bitcoin where the mechanism is highly stable, compared to this dollar peg coin.