Quote from: Sayeds56 on June 10, 2022, 02:02:19 AM

Quote from: Abiky on May 16, 2022, 12:10:46 PM

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.

Luna crash has already given enough damage to the market which is evident from consistent bearish trend after this unfortunate incident. Honestly speaking it has scared away Investors which is visible when we look at declining coinmarketcap that simply means capital flight from crypto market. Market participant fear further crash in many other projects like Solana and even stable coins are vulnerable because all of them are not fully backed by Fiat dollars.

While it is disappointing that a coin that turned out to be nothing more than a scam can have such a negative effect in the market we need to accept the reality, the disaster brought by Terra Luna is not something that is going to disappear anytime soon and it will be forever remembered not only in this market but in almost any other market.

And while I have not promoted to others the benefits of bitcoin for a long time, this event has made many times more difficult, for those that do to try to attract more people to this market, to convince people to join it, as they will see what happened to Luna and they will think such a thing can happen to bitcoin as well.