Re: Will LUNA's downfall scare away investors from the crypto market?
I definitely think that the whole event around Terra (Luna) will scare away some or eve a lot of potential investors from the crypto market, at least for a little while now. I mean just look at what happened in the last two weeks or so. Even the people that were already invested into the crypto market were suddenly scared and began to massively sell of their holdings. Even USDT was at around 0,95$ at some point a few days ago if i remember correctly. So if people that are already in the crypto market become scared then guess what happened to people that were only thinking about to invest into cryptos in the future. Time will heal all wounds though.
Long-term speaking, the crypto market will gain confidence among investors and traders alike. But don't expect any capital inflow across major cryptocurrencies right now. Sadly, prices are heading south because of the LUNA crash. There's a lot of FUD across mainstream media outlets, temporarily damaging crypto's reputation. If you're smart enough, you'd take this opportunity to buy as much discounted coins (not LUNA, of course) as possible.
I'd stick with the good-old coins (eg: Bitcoin, Ethereum) just to be safe. With every new technology, we're expected to see "hiccups" along the way. As long as issues are addressed, crypto/Blockchain tech will become bigger and stronger than ever. Who knows if what happened with LUNA encourages developers to improve algorithmic stablecoins for the better? Just my thoughts
