There is no such thing as too big to fail. I was still…
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There is no such thing as too big to fail.
I was still pretty new to crypto when Luna happened. A close friend of mine had been in the market way longer than me and he was a massive Luna believer. Like genuinely convinced it was untouchable. We'd both been watching it for a long time and were DCAing into it pretty regularly.
Then it collapsed. And I mean properly collapsed. I remember sitting there thinking there is absolutely no way this thing drops 90% in a single day. That just doesn't happen to something this big.
It did.
My friend took it hard. He had way more in it than me and had been holding for much longer. Watching someone who knew the market better than me get hit like that was its own kind of lesson.
But honestly I'm grateful it happened when it did. Early enough that the loss was painful but not devastating. And it permanently rewired how I think about any asset regardless of how established or popular it seems. No project, no coin, no company is immune. The bigger something looks the more confident people get and that confidence is exactly what makes the fall so brutal when it comes.
Nothing is too big to fail. That's not pessimism, it's just how markets work.
#cryptocurrency
source
I was still pretty new to crypto when Luna happened. A close friend of mine had been in the market way longer than me and he was a massive Luna believer. Like genuinely convinced it was untouchable. We'd both been watching it for a long time and were DCAing into it pretty regularly.
Then it collapsed. And I mean properly collapsed. I remember sitting there thinking there is absolutely no way this thing drops 90% in a single day. That just doesn't happen to something this big.
It did.
My friend took it hard. He had way more in it than me and had been holding for much longer. Watching someone who knew the market better than me get hit like that was its own kind of lesson.
But honestly I'm grateful it happened when it did. Early enough that the loss was painful but not devastating. And it permanently rewired how I think about any asset regardless of how established or popular it seems. No project, no coin, no company is immune. The bigger something looks the more confident people get and that confidence is exactly what makes the fall so brutal when it comes.
Nothing is too big to fail. That's not pessimism, it's just how markets work.
#cryptocurrency
source
| 2,000 mlx | |
| 2 | |
| 0 |