Quote from: wxa7115 on July 09, 2022, 05:09:53 PM

Quote from: bitgov on July 08, 2022, 08:45:32 PM

The market is so unpredictable - anything can happen at any stage of the time. If we look at LUNA - what a horrible mistake it was.
Two of my friends lost their big capital to LUNA, I was about to make the same mistake but thank God - I missed buying them.

Without a doubt when people are talking about a dump they think of a regular drop in the market in which there is still a possibility for the coin in which they invested to recover, however the dump of Luna was different.

If someone had most of their capital invested in Luna and was even gambling with it then what happened affected them to an incredible degree, as the coin crashed almost all the way to zero in a single week, and as such any moment of hesitation was a moment in which the price kept dropping and it was making more and more difficult the decision to sell, which is why so many people that bought Luna for a high price decided to not sell thinking the coin will recover, only to be proven wrong and losing any chance of ever recovering their money, which without a doubt affected their gambling as well as now they had no money to spare at all for the activity.

Really, the LUNA thing should not take us by surprise, this type of currency can reach that type of behavior, we know very well that everything is managed by supply and demand, and obviously LUNA does not have and never had a life of its own, LUNA just like all altcoins will always depend on BTC, and BTC is the only King currency, the one that rules, and yes, BTC is the only currency that has life, and only the fact of falling in price shakes the weaker altcoin projects and the it collapses, for me that was what happened to LUNA, it never had a good project, therefore it failed and everything went down, like a big landslide where nothing was left.