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The State Of Investors After The Recent Terra (LUNA)! Here’s How They Are Dealing

Written by: Qadir AK

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Qadir AK

Qadir Ak is the founder of Coinpedia. He has over a decade of experience writing about technology and has been covering the blockchain and cryptocurrency space since 2010. He has also interviewed a few prominent experts within the cryptocurrency space.

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May 23, 2022

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The recent cryptocurrency market crash just wiped off $400 billion worth of investors’ wealth globally. This market crash was led by Terra (LUNA) and its stable coin UST crashing below $1 dragging the whole crypto market.

In a recent tweet, Raoul Pal, the CEO, and co-founder of Real Vision voiced his dissatisfaction with the present situation of the cryptocurrency community.

Pal alleges that Crypto Twitter has deteriorated into a horde of enraged users yelling at “anyone with opposing viewpoints.”

Instead of conducting a “philosophical justice war,” he believes crypto investors should be friendly to one another.

“I Never Recommended LUNA” States Paul

Pal has been requested by some users to issue a public statement in support of those who have been caught up in the Terra mess.

Pal claimed in the next tweet that he “never promoted” Luna despite previously promoting it and declaring that it was “essentially risk-free” in a video that resurfaced on social media following the project’s demise.

The former Goldman Sachs banker named LUNA as one of his favorite coins in November. A Twitter user remarked, “Raoul’s switch from crypto to macro’ was as quick as Luna’s fall.”

Predictions Went Wrong

Bitcoin, the world’s most popular cryptocurrency, just established a new record by falling for the eighth straight week. From its all-time high, the leading cryptocurrency is down 55.72 percent. 

Pal projected that Bitcoin will reach $400,000 in September and that competing cryptocurrency Ether would reach $20,000 by March. Needless to say, the optimistic prognosis turned out to be disastrous.

The investing guru claimed that Bitcoin will reach $1 million within five years in 2020. Pal predicted that by 2030, cryptocurrency might be worth $250 trillion.

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Qadir AK

Qadir Ak is the founder of Coinpedia. He has over a decade of experience writing about technology and has been covering the blockchain and cryptocurrency space since 2010. He has also interviewed a few prominent experts within the cryptocurrency space.

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