Is Terra Luna bringing the whole market down? - page 2.

X-ray

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Quote from: Chato1977 on May 20, 2022, 05:28:55 AM

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? Roll Eyes

Chato1977

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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.

Jose Mourinho

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Quote from: AakZaki on May 13, 2022, 09:38:44 AM

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.

South Park

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Quote from: darewaller on May 13, 2022, 02:22:55 PM

Quote from: mindrust on May 11, 2022, 12:45:23 PM

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.

bitterguy28

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Quote from: diffract on May 13, 2022, 06:00:07 PM

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.

KennyR

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Quote from: ScamViruS on May 13, 2022, 05:57:52 PM

Quote from: cdog on May 13, 2022, 03:27:22 PM

Quote from: usekevin on May 13, 2022, 02:34:05 PM

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.

Webetcoins

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Quote from: davincicode666 on May 13, 2022, 01:28:13 AM

Quote from: diffract on May 12, 2022, 03:56:17 PM

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.

diffract

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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?

ScamViruS

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Quote from: cdog on May 13, 2022, 03:27:22 PM

Quote from: usekevin on May 13, 2022, 02:34:05 PM

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.

cdog

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Quote from: usekevin on May 13, 2022, 02:34:05 PM

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.

usekevin

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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.

darewaller

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Quote from: mindrust on May 11, 2022, 12:45:23 PM

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?

el kaka22

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For sure, there is no denying that at all. I mean it has been bringing it down for few days now and it looks like it's not going to stop anytime soon by the looks of it. It can't impact it that much anymore, all the money got out of it and it won't make that much noise to be fair.

However, what we need to do right now is to check what's going on and see if others could follow. If other coins follow suit then it could be terrible but if not then we are going to be fine. I think that there could be a few more projects that will crash after this, it looks like it's totally possible to repeat the action for at least 2 others but I hope that won't happen.

AakZaki

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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.

Webetcoins

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Quote from: strunberg on May 12, 2022, 03:12:46 AM

Quote from: X-ray on May 10, 2022, 06:22:04 PM

Luna soon will reach $6. The only traders that buy luna are to shorting the market. bunch of guys have planned to sell their terra luna for the stable token. It's over for terra luna. This will become another bad thing to be written in the crypto book history if there was a company who collapse caused by failed to manage its product called stable token. I just wanna see how many traders are still interesting to buy this token. It's sad to see that dumping more than 75% in 3 days. What a shame

no more people will trust to LUNA , today Luna hit new low again and no buying pressure in this coin. Its become nothing now for Luna and UST , most crypto traders now short Luna till to earth not only moon again. we become witness how dark this Luna rugpull and UST, alot investors become poor man due holding Luna which is recognized as best projects.

That's scary. Even the project that we already trusted for quite some time can still betray us. I agree with what @X-ray said, this will be recorded in the history of cryptos but it's not something that everyone should be proud of so I am not sure if many people will look back at it someday especially if they are among to those who got scammed by this coin as that can only bring them a stress and heartaches but for sure there are still that will buy this coin as they think this coin can still recover.

Now, we finally know why the market and the price of btc is dumping really hard. This issue might have contributed a lot along with other negativeness.

davincicode666

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Quote from: diffract on May 12, 2022, 03:56:17 PM

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.

Tony116

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Quote from: EdenHazard on May 12, 2022, 07:30:25 PM

Quote from: diffract on May 12, 2022, 03:56:17 PM

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.

Double trouble incoming indeed if they insist to work on TRON / ADA stable coins ... it's proven very poor .. awful and scared concept on what so called stable coin , look where LUNA now , it's worth $0.00008 from hundred dollar within a month , what a scandal! The UST terra blockchain network has officially stopped working now.

This is terrifying moment. Wild crazy crypto!

Luna's lesson is so great, I don't think Tron, Ada or even Near will carry on with this idea. If they still insist on doing it, it's like killing themselves and becoming the next Luna. The Luna crash caused the market to evaporate $600 billion, this is the craziest thing we've ever seen, it's more than the worst thing that happened in 2018. Crypto are crazy and nothing is impossible. I hope newbies will learn from luna's lesson, cryptocurrencies are not a place where we can get rich quickly without risk.

EdenHazard

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Quote from: diffract on May 12, 2022, 03:56:17 PM

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.

Double trouble incoming indeed if they insist to work on TRON / ADA stable coins ... it's proven very poor .. awful and scared concept on what so called stable coin , look where LUNA now , it's worth $0.00008 from hundred dollar within a month , what a scandal! The UST terra blockchain network has officially stopped working now.

This is terrifying moment. Wild crazy crypto!

Scripture

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Quote from: diffract on May 12, 2022, 03:56:17 PM

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.

Also TETHER shows some drop as well, which supposed to be the stable coin yet its moving as well, this might be the scariest scenario in the market where most of the stable coins are dropping, so I hope no more drop like this because for sure, it can affect the whole market. Bitcoin goes below $30k again, that could be the signal of a long bear market, I hope I'm wrong because many can't really afford to see another long bear.

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Quote from: $crypto$ on May 12, 2022, 06:37:04 AM

Quote from: blockman on May 12, 2022, 05:47:14 AM

Quote from: Lantind on May 12, 2022, 03:32:44 AM

Now the price is under half a dollar with a decline that will still occur and even some people have also assumed that Luna will die within this year and if it doesn't die, then another big increase could happen to Luna with potential that will continue to grow in the future.

UST is $0.4
Terra is out now of top 100 and priced at $0.06 and it was lower a few hours ago and, is now in ranked 128. That's totally a massive lost for these two projects.
The foundation is losing a lot and people are now starting to say that this is like bitconnect 2.0. I still don't know if that's how it's going but everyone is looking at it every single minute.

Terra Luna's bad image is bad, many investors think this will come out as scamers where the price drops 98% but some say this is an attack on an unknown party but this is a fact they can't maintain at the same time a stable coin, namely UST.
Some say their foundation will sell bitcoin and recover the price slowly. Will this convince investors again? It seems difficult that many have been disappointed with this coin, but for it there is none in my portfolio.

Yeah, everyone is now thinking that they've rug pulled. They've sold their bitcoins and that's why the market has quickly going down. I don't think everyone is confident with them anymore and as much as possible, as an investment, they're avoiding it.
But for traders who can still scalp from them, they will stay and as long as they're profiting from it, they will continue to do it.

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