The plummet of Terra (LUNA) caused major havoc in the crypto market, leading to the crypto market crash! But can we blame LUNA entirely for the blood bath? We are afraid not!
First, it was the Russia-Ukraine war that turned the crypto market gears, and then inflation added fuel to the fire. The Terra (LUNA) fiasco was the final nail in the coffin that sent the bears dancing!
For those who don’t know yet, Terra (LUNA) lost almost its entire value in a few days span. But, it’s unlikely that a holder of the LUNA coin would still be in fairly land, totally impervious to the situation. If you are amongst the holders of LUNA, we know what it feels like to be the crypto god’s least favorite child! But here’s what you can do at the moment:
1. Stay calm
If there is one thing we’ve known to be true, it’s that nothing good comes of doing things hastily! While the thought of losing a major chunk of your money is scary — for anyone, it might serve you best if you could remind yourself of your LUNA investment goals.
- Are you investing because you believe in the long-term opportunity?
If you had invested in LUNA wanting to stay put for the long term, then you have to trust the people behind the coin, that they won’t let their baby die.
- Or are you here to make a quick buck on short-term trading?
If you were in it to quickly exit by taking small profits on your capital, then it’s only best that you stick to your strategy and pull the trigger.
After all, the best course of action is the strategy you had first planned! But stick to the damn plan!
2. Analyze the future
We know what you are thinking! “The crash has only proven that the future is uncertain! Is analyzing the future even worth it?” Of Course, no one can blame you for thinking that way. But you see, the market was hinting at the arrival of the bear market. It was we who failed to take notice of the inevitable. So maybe, just maybe, if we can try to stay ahead of the curve by playing ‘joining the dots’ and making sense of the future direction, it might not come to bite us as badly as it recently did! We know it’s hard to do all that analysis sometimes. Hence, we have expert price analysis published for you to make sense of.
3. Hedge! Hedge! Hedge!
How many coins do you think might see a similar plight as LUNA? One? Two? Ten? The point is that if you diversify by investing in different coins, the lighter is the impact of a coin dragging your portfolio down. All you need is just one or two good investments to not only offset the bad investments but also bring you good returns! With more coins in your portfolio, the bear market’s impact would give a softer blow, both to your returns and peace of mind!
Bottom-line
For all the LUNA holders, we believe it’s not yet time to say RIP to your investments! In fact, this whole ordeal could lead to the rebirth of a new LUNA! But for the rebirth to prove futile, you need to let the soil, water, and sunlight do the trick while you patiently wait to reap the fruits! We hope your LUNA holdings will see daylight once again!
Disclaimer: The information provided in this article is not intended to provide investment or financial advice. Investment decisions should be based on the individual’s financial needs, objectives, and risk profile. We encourage readers to understand the assets and risks before making any investment entirely.
