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Moonshot Alert (PRO) # 28 - Is it time to buy or sell crypto?

alexmoneton.substack.com

Moonshot Alert (PRO) # 28 - Is it time to buy or sell crypto?

Alex Monéton
May 13, 2022
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Moonshot Alert (PRO) # 28 - Is it time to buy or sell crypto?

alexmoneton.substack.com

Hello everyone -

I won’t sugarcoat it, the last 72 hours have been a rollercoaster.

Bitcoin fell below the $30,000 mark, and many altcoins lost 50-80% in a day.

More importantly, the Terra ecosystem collapsed.

$LUNA - one of the most established and hyped blue chips in crypto used to peg the stablecoin $UST to $1, went from $85 to $0 in less than a week.

In the process, $UST - supposed to be a reliable cash equivalent in crypto - depegged from the $1 mark and has lost 90% of its value at the time of publication.

In short, millions of people have lost a lot of money. Some investors have lost faith in crypto altogether, and overall sentiment has turned incredibly negative.

Some of it is understandable. Those who held $LUNA as a blue chip got totally wiped out.

And those who held $UST as a cash-equivalent savings account with a 20% interest in Anchor took a 90% haircut on their savings.

In short - it’s been a rough week. In fact, this week was likely the worst we’ve seen in the last 24 months o…

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