Terra LUNA and UST collapse surrounds the entire cryptocurrency market. Binance’s $3 million investment in LUNA turned into $3,000 in less than a week. Such a huge loss is causing outrage throughout the community. Raoul Pal, CEO and co-founder of Real Vision, expressed his frustration with the current state of the Terra community in a recent tweet.
Raoul Pal complains of angry investors after the crash
Renowned economist Raoul Pal made statements about LUNA in a series of recent tweets. Pal says the crypto Twitter community has turned into angry people.
Im finding it very hard to not get extremely bullish about the next few months. Almost every crypto chart looks coiled and ready for a big move after months of consolidation. Here are the two charts that matter to me right now:
— Raoul Pal (@RaoulGMI) October 2, 2021
“Luna token’ I do not recommend”
Some on Twitter urged the famous economist to make a statement for investors affected by the crash. Pal says he “never recommends” although he has endorsed LUNA in the past. Terra was one of the top performers in the cryptocurrency market in 2021. During this period, he found billions of dollars in funding from a number of investment firms, becoming famous for making ATHs while the market was falling. Back in November, Goldman Sachs added LUNA to its list of favorite cryptocurrencies, sparking a buzz among investors.
Bitcoin breaks record
LUNA and UST aside, the world’s largest cryptocurrency Bitcoin has recently entered its eighth consecutive week. He set a new record by recording in red. The BTC price has now lost 55.72% from its peak of $69,000 in November. In September of last year, Pal predicted that the price of Bitcoin would reach $400,000 and Ethereum would see $20,000 by March. After peaking for the last time in November, BTC and ETH could not step into the bull market again.
Meanwhile, Pal had predicted that in 2022, the price of Bitcoin could reach $1 million in five years. In January, he said that the total value of the cryptocurrency market could reach $250 trillion by 2030. Kriptokoin.com , while the target of 100 thousand dollars in Bitcoin is maintained until the collapse of the Terra ecosystem, the first half of 2022 is about to close around 30 thousand dollars.
