Re: Will LUNA's downfall scare away investors from the crypto market?
What happened with Luna has already damaged the confidence of market participants, money is flying away from crypto market which is evident from declining marketcap and certainly it will scare away investors in the short to medium term but in the long run people will forget because human memory is very short. All markets have seen crash, long bear cycles and recessions but after sometime process of recovery starts,
Depending on the severity of the crash, people might never forget about Terra/LUNA's scandal. There were billions of dollars on the line, which all went away in an instant due to the irresponsibility of the Terra team. Unless the UST peg is restored and LUNA's price goes back to normal, it's going to take a long time before confidence is regained on crypto/Blockchain tech. At least, Bitcoin and some other "blue chip" coins are standing strong. LUNA may fade into oblivion, but another cryptocurrency will take its place in the future.
All in all, I think decentralization needs to win for crypto to last a long time. For now, let's focus on accumulating BTC and other prominent alts to achieve peace of mind in the future. Just my thoughts
