The recent cryptocurrency market crash just wiped off $400 billion worth of investors’ wealth globally. This market crash was led by Terra (LUNA) and its stable coin UST crashing below $1 dragging the whole crypto market.
In a recent tweet, Raoul Pal, CEO and co-founder of Real Vision expressed his displeasure with the current situation in the cryptocurrency community.
Instead of conducting a “philosophical justice war,” he believes crypto investors should be friendly to one another.
“I never recommended LUNA” says Paul
Pal has been requested by some users to issue a public statement in support of those who have been caught up in the Terra mess.
Pal claimed in the following tweet that he “never promoted” Luna despite her previous promotion and stating that it was “essentially risk-free” in a video that resurfaced on social media after the disappearance of the project.
The former Goldman Sachs banker named LUNA as one of his favorite coins in November. A Twitter user remarked, “Raoul’s switch from crypto to macro’ was as quick as Luna’s fall.”
Predictions gone wrong
Bitcoin, the most popular cryptocurrency in the world, has just set a new record by falling for the eighth week in a row. Since its all-time high, the major cryptocurrency is down 55.72%.
Pal projected that Bitcoin will reach $400,000 in September and that competing cryptocurrency Ether would reach $20,000 by March. Needless to say, the optimistic prognosis turned out to be disastrous.
The investment guru claimed that Bitcoin will hit $1 million within five years in 2020. Pal predicted that by 2030 the cryptocurrency could be worth $250 trillion.
