Is Terra Luna bringing the whole market down?

[darewaller]

I tried to warn people but then I started to not care... Stable coins are a huge risk for the crypto space. The bigger they get, the riskier crypto becomes. TerraUSD was relatively a smaller stable coin when compared with USDT. If UST can cause that much pain, imagine what would happen if USDT was going down. I hope that day never comes but when or if it does, it will be much worse than this.

They never listen, you always try to tell people what they should avoid, I can't tell you how you could make money because if I knew it then I would be wealthy right now, but I can teach you how to avoid losing money and they never listen. They are always focused on how they could make money and rarely ever focus on how they could avoid losing.

I try my best to tell them what to avoid, and how they can spot a situation that could go south, and they ignore it for the sake of making profit. I have so many friends who bought a ton of Luna today for example, anywhere between 2 to even 10 dollars, because they believe it will recover, why take the risk though?

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[usekevin]

On deep thinking about the full market movement,it will be the true one.Because the price of Luna was reduced 99.9% from the old value.This give huge impacts to the market.Many people had cash out their entire money from the Luna.Some people had withdrew entire and get the funds out to their bank accounts.It was reasons for the dump.

[cdog]

On deep thinking about the full market movement,it will be the true one.Because the price of Luna was reduced 99.9% from the old value.This give huge impacts to the market.Many people had cash out their entire money from the Luna.Some people had withdrew entire and get the funds out to their bank accounts.It was reasons for the dump.

The effect of a 99% decline in luna prices is very bad for the crypto market, a lot of people's speculation about the bear market today is related to the price loss factor on luna and ust coins, I think not all traders cash out of losses but they will recover losses on bitcoin trading and other top altcoins.

[ScamViruS]

On deep thinking about the full market movement,it will be the true one.Because the price of Luna was reduced 99.9% from the old value.This give huge impacts to the market.Many people had cash out their entire money from the Luna.Some people had withdrew entire and get the funds out to their bank accounts.It was reasons for the dump.

The effect of a 99% decline in luna prices is very bad for the crypto market, a lot of people's speculation about the bear market today is related to the price loss factor on luna and ust coins, I think not all traders cash out of losses but they will recover losses on bitcoin trading and other top altcoins.

It is true that Luna's collapse did not bring good news for the crypto market. Looking at the situation in the market, one can understand what is really happening and fear has been created in the market among the traders. When one coin was fundamentally very strong and one top coin was Luna. No crypto investor / trader ever thought that this coin would crash this way. But in reality it has happened and traders are closing other trades so as not to fall into such a situation. Hopefully this situation will get better soon and Luna investors will be able to recover their losses from other opportunities.

[diffract]

So Do Kwon posted this: https://twitter.com/stablekwon/status/1525238422264172544
The Luna Foundation Guard is "documenting the use of the LFG BTC reserves during the depegging event."

Does this mean more bad news for BTC's price action?

[Webetcoins]

You know what's scary?
TRON and ADA are working on new algorithmic stable coins. Previously we had one and look what it's done, what will happen if we have double trouble? These new projects will have a serious reputation to build up, and whoever attacked UST won't sleep on new algo stables.

UST has been in trouble during the downturn with her and Luna recently so it's best to ignore it first and take a look at the others like TRON and ADA you mentioned because I think both of them are still doing very well so far and not having the same problems as UST at the moment.

We can't ignore the issue as it's serious. Maybe it is easy for you to say this because you are not one of those who lost their money on those assets but indeed that we can't be like this forever. How can we progress if we don't move on? We can try again investing on other coins and hope for the best out of them. Maybe we can get lucky and we can recover the huge money that we lost before.

To be honest I have a trust more on tron and ada than terra luna. The two coins have better devs on them so they know the risk that they are going to venture. This was like a break or make moment because if this fails, many will leave these coins but if it's a success the more they get investors.

[KennyR]

On deep thinking about the full market movement,it will be the true one.Because the price of Luna was reduced 99.9% from the old value.This give huge impacts to the market.Many people had cash out their entire money from the Luna.Some people had withdrew entire and get the funds out to their bank accounts.It was reasons for the dump.

The effect of a 99% decline in luna prices is very bad for the crypto market, a lot of people's speculation about the bear market today is related to the price loss factor on luna and ust coins, I think not all traders cash out of losses but they will recover losses on bitcoin trading and other top altcoins.

It is true that Luna's collapse did not bring good news for the crypto market. Looking at the situation in the market, one can understand what is really happening and fear has been created in the market among the traders. When one coin was fundamentally very strong and one top coin was Luna. No crypto investor / trader ever thought that this coin would crash this way. But in reality it has happened and traders are closing other trades so as not to fall into such a situation. Hopefully this situation will get better soon and Luna investors will be able to recover their losses from other opportunities.

The market experienced its bad moment, and if this issue haven't happened we could've experienced the crash for some other reason. The cyclic process have taken place and for some period we'll experience bearish move with minor bullish fluctuation. Until then it can be used as an opportunity to invest and the next bullish move can happen in a much faster way.

[bitterguy28]

So Do Kwon posted this: https://twitter.com/stablekwon/status/1525238422264172544
The Luna Foundation Guard is "documenting the use of the LFG BTC reserves during the depegging event."

Does this mean more bad news for BTC's price action?

even if there is another Bad news , i will take this as a chance because there is nothing we can do now but to take the advantage instead of being depress and disappointed , we already knew how this market work and dumping is part of the system.
so take this to favor you? or be a loser all your life.

[South Park]

I tried to warn people but then I started to not care... Stable coins are a huge risk for the crypto space. The bigger they get, the riskier crypto becomes. TerraUSD was relatively a smaller stable coin when compared with USDT. If UST can cause that much pain, imagine what would happen if USDT was going down. I hope that day never comes but when or if it does, it will be much worse than this.

They never listen, you always try to tell people what they should avoid, I can't tell you how you could make money because if I knew it then I would be wealthy right now, but I can teach you how to avoid losing money and they never listen. They are always focused on how they could make money and rarely ever focus on how they could avoid losing.

I try my best to tell them what to avoid, and how they can spot a situation that could go south, and they ignore it for the sake of making profit. I have so many friends who bought a ton of Luna today for example, anywhere between 2 to even 10 dollars, because they believe it will recover, why take the risk though?

On average people overestimate their capabilities, the people that do not listen to your advice about how not to lose money do so because to them that possibly does not even exist in their minds, for them the only scenario that exist is to earn a small amount of money or to earn a big sum of money, they never think about losing and this is nothing really that rare, how many people take risky decisions with their lives only to lament the outcome they got and then they tell you that they never believed something like that could happen to them? This is very common, which explains why so many people seem to behave in a way that does not seem to make sense for those that can see the dangers of their actions.

[Jose Mourinho]

I was so surprised by this, imagine he was almost down 100%. Currently I see in Binance the lowest price reaches 0.003. Even this price is technically unreasonable, if you want to buy it I am also a little afraid because this coin is not yet clear how it will be. The most appropriate if you have residual funds then scalping is the best way.
I slightly disagree if luna has a big effect on BTC. BTC has its own pattern. This time is right in the middle of the halving period and it happened also in last year's halving. So far I think it's still natural, I'm just sorry for those who have Luna at the price of ATH.

yes you are right the current value of terra on binance is almost close to zero, of course it will raise big doubts when planning to buy the token, and the current decline of terra luna cannot affect other coins on the market, because LUNA influence  not been too big in crypto growth, I think currently only BTC can affect the crypto market.

[Chato1977]

I don't think it is Terra Luna Itself making the whole market down , because we have several situation in the past that makes high scamming than this but still market did survive .
so yeah this may add flavor to the dumping but remember that even before that Terra Luna issue? the market starts dumping lol.

[X-ray]

so yeah this may add flavor to the dumping but remember that even before that Terra Luna issue? the market starts dumping lol.

The market has been dumping before luna but luna was making it even worst caused by the poorly design of its stable token. This is also bring so many people are feeling panic. it's dead just only in a few days. What a pathetic project. Bunch of followers have gone and the trust of community already disappeared and so this is also giving so many impact to the crypto investors. They are starting to distrust the crypto.
Don't you even aware about that? 

[ringgo96]

For UST I think it will get worse for them to live at the moment and they have to wait for the recovery that is currently happening, with the situation getting worse they want to lift back what is currently very difficult for us to accept, but with the current decline in terra luna affecting market conditions worse of course I am not sure because there is something else going on until the value of bitcoin and altcoins decreases.

[saladin7000]

I think terra luna does not affect the price fluctuations in the market, because LUNA is one of the coins that is still in the development stage and the project developers have not succeeded in doing that, where currently terra luna has dropped almost 100% of the ATH price and the worst thing is that terra luna has been removed from the list on binance, of course this makes the holder of terra luna bleed.

[andyou1234]

I don't think that Terra Luna can bring down the entire market, because this token doesn't have strong fundamentals at all to be able to sustain its own destruction, the point is how a token can make other tokens follow it while he himself can't at all making himself able to survive from a slump, the thing is different with BTC where the coin has been proven to be able to affect all coins in crypto can depend on its growth.

[ajochems]

It was true fact happened a week ago. Total market loss the trust on the crypto currency,it’s like a gambling on investment in crypto currency. But the fact is different from the real,people stop investing and full cash out of crypto currency to Fiat. At the last total people almost cash out and market was dam collapsed. So the price of most of the coin reduced.

[manok jepang]

the crypto market is currently in decline and that is because the market is in a bearish condition, I not at all that this market decline is influenced by Terra Luna, because that is a very unlikely thing to happen.

[Smack That Ace]

the crypto market is currently in decline and that is because the market is in a bearish condition, I not at all that this market decline is influenced by Terra Luna, because that is a very unlikely thing to happen.

It's true, the market has been bearish since the end of 2021 but with the collapse of Luna and Ust the whole market was dumped leading to a serious crash. Before that Dokwon spent a lot of money to buy bitcoin and some other altcoins to support ust but after ust started depeg they have to sell bitcoin and other altcoins to offset the ust price in order to maintain a stable level for ust. This caused panic selling dragging the entire market down rapidly.

[Wildwest]

I don't think it's terra luna that causes the current market situation to drop drastically, because before there is a problem with the terra luna project the value of bitcoin and altcoins has indeed begun to fall, and currently bitcoin and altcoins are struggling to bounce back even though this takes time but I believe it won't take long for all to return to the highest value, luna's project is currently doing major repairs so that there is no eraser on the largest exchanges today.

[sana54210]

We know algorithmic stablecoins are new and risky. UST is backed by Luna, and the foundation behind Luna bought so much Bitcoin I believe they're now amongst the top 10 holders.

If UST loses its peg against the dollar and Luna isn't enough to bring it back up, the foundation will have to sell some of its BTC to keep the peg, which applies sell pressure on BTC and brings it down along with the whole crypto market.

The trouble we are having right now is that it keeps going on and we are not recovering because Luna is still trying to get Luna better, the team and the investors are all trying their best to keep it going. They are aware that Luna will not recover but at the end of the day UST could recover in their mind, but it is not and it's 6 cents already and it's terrible.

But, the amount of money spent on trying to recover that or even trying to keep it going for a little while, instead of letting both of them to die, is a trouble. That is why I believe that we could not be really expecting them to make it back, so just let them be and the market will go up a lot.