Any opinions on what happened to $LUNA?

$LUNA has crashed terribly, at one being 4th most popular cryptocurrency, now is essentially worthless.
What do you think this will do for the confidence for newbies to the cryptosphere?

 

most likely new people will get scared of that crash and leave crypto. just my opinion.

 

Far from true, LUNA was a ponzi since the beginning.. 90% of all the money that are put into crypto are just dumb money, thats also why luna could reach such high market cap.. that coin is literally a copy of bitconnect due to the fact that the apy was 20%.. there has never been any bank in the history who could offer such a positive interest rate so why would LUNA be able to? and celsius now as well since its also declared bankrupt, but it was offering 5% instead, and even that number is unrealisticly high, not to mention that the economy structure behind luna and celsius didnt make sense... celsius clearly was gambling with our money, and since the bullrun ended, they faced bankruptcy

Also UST which was lunas stablecoin was backed up by bitcoin... now the question is.. what is bitcoin backed up with? nothing... completely nothing since regulation isnt in place for it to be worth something, so currently every crypto investor is gambling unless its a cryptocurrency that is made by a company such as quant and binance token