A couple loses the money of their house due to the fall of the MOON and Terra USD

The extreme price drop of the LUNA and TERRA USD cryptocurrencies, to almost zero, generated that the people who had it stored have had great losses of money. Which is why those affected raised their voices on Twitter, commenting on how this situation has ruined their financial plans.

One of the most impactful stories is that of ZahraBerrada1, who share on the social network that he lost the money from the sale of his house. “My husband and I sold our house and we did it through LUNA. I’m trying to digest whether this is happening or it’s just a nightmare,” he said.

At the moment, LUNA is worth USD 2,2, recovering a bit after the announcements of its developer after having touched 90 cents today, while a month ago it was worth USD 120, according to CoinMarketCap. As reported by Criptonews, this affected the stablecoin, which had a parity of 1:1 with the American dollar and came to step on the USD 30 pennies today.

One affected by the price drop, named UfcEllis, commented: “Man, I was about to open my first bakery. I had my last USD 30,000 in LUNA in the hope that I could earn some money with it and buy the best equipment. Now the bakery will have to wait another 2-3 years.”

A phrase that has resonated a lot in the community because of the fall of LUNA and UST is: “I lost my life savings”. An example of this is the user fy-crypto, who express this reality very distressed and telling that he does not feel well. This was also revealed by another tweeter, named Crypto2588, who pointed to the creators of both cryptocurrencies as the main culprits: “You broke thousands of investors.”

Something similar said a young man under the alias crypto_birb: “I lost almost all my life savings. I don’t use leverage often and I broke that rule because I saw LUNA shorts as free money. I lost $300,000 at 25. I’m more than pissed off.” To show the distressing panorama, he shared that he has been receiving text messages from his trader friends telling him: “At least you are alive. That’s all that matters.”

Another young man nicknamed ashsbreal confessed that he lost all his money on LUNA and can’t face his parents. that the savings were theirs. This situation puts those affected between anguish and despair, as cryptnamese showed, say: “I lost everything! Refund, please! I hope to have a kind heart, for people like me, because of the big scam.”

Despite the fact that there are many affected, the experience is not shared by everyone. Some investors managed to sell before the market completely fell. An example of this is the trader Eamplus, who have that he sold his shares at only a 10% loss. And it is that just the massive sales made the prices of the cryptocurrencies from Terra come down abysmally.

Community encourages those affected by the fall in the price of UST and LUNA

The price drop of the LUNA altcoin and the UST stablecoin has generated a wave of comments on social networks encouraging those who have lost their money there. Even, in an attempt to give strength, many have told about their past experiences losing their savings with cryptocurrencies. Something that several applauded because, as say the user NicoDelCampo, traders usually count only what they earn and not what they lose.

In order to encourage those affected, the ThinkingUSD account he tweeted: “I know it seems like the world is ending and you are at the bottom, if you lost all your LUNA/UST money and maybe even lost the money of some of your friends or family, investors, whatever. I don’t know who has to see this, but it’ll be fine. I have survived massive reductions.”

The trader commented that he has lost 80% of his savings in cryptocurrency crashes in the past and has managed to overcome it. “In the accident in March 2020 I saw myself go from 8 figures to what felt like 0 in a few hours,” he commented.  But he clarified that the point of telling that is that, although everything looks black and they continue to fall, you have to keep fighting because you get ahead. Messages similar to this tweet were shared by different cryptocurrency enthusiasts, who advise those affected to be careful in their investments for the next time.

User Indiana_rocks said: “This is a massive learning curve for greedy people – don’t risk what you can’t afford to lose.” On this, InvestorRecon added: “People who bet their life savings on a speculative asset are the ultimate bubble, an extremely difficult lesson to learn.”

The situation leaves a lot of learning for traders and encouragement to continue. A key warning when buying cryptocurrencies, as well as when making any investment, is to calculate potential losses in advance. One should always do this beforehand to make sure that one is willing to face such a possible scenario. In this way, the risk in trading is managed.

About this, Cryptolegacy20 said: “Money comes and goes, but life is unique. You are unique and precious. With hard work and consistency you can earn money. If you fall to your knees, you need to stand up and fight for the future of your family for your beloved children. Giving up is not an option!»

In the same vein, the trader tlagomi comment that it has survived the reduction of ETH by going from $1500 to $80 in 2018. It also spent that of the MOON in 2021 from USD 20 to USD 3. “And now this last one, which turned out to be the first time I was liquidated. This space is all about mental fortitude. That sinking feeling in your stomach builds character,” he concluded giving strength.