Is Celsius in trouble ?!? | Bitcointalksearch.org

justdimin

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Quote from: makishart on June 15, 2022, 02:38:53 AM

Quote from: Len Saldua on June 14, 2022, 03:39:38 PM

Okay hold on, if Celsius is really in trouble, why is the price pumping like crazy !?! Wouldn't you expect people to be selling like crazy ?

A day ago celcius was on a very big trouble as it's almost coming to the liquidation price but the dev was doing another effort to make the liq price even deeper but remember this is crypto when bitcoin can be shorted anytime by the whale. It so many whales will be shorting bitcoin to go even deeper than 15k and this platform will dead very soon. people have been massively selling their cel but after the liq price gets deeper and they are going back again to the market.
It's not a pump

It is of course not a simple thing to make something stand strong when there are whales which could make a lot of profit from it. I am not saying that it has to be liquidated, but as long as there is a chance that some whales could sell, short, or whatever you want to name it and make a profit from it, they will always work towards that aim.

Maybe it could be avoided today, or maybe it will be avoided tomorrow, but as long as there is a potential of profit to be made then there will always be "attackers" which will be whales trying to make money by using their money. Celsius may or may not be in trouble right now, but it is guaranteed that they will always have a risk of it for sure.

RussianEnglishTranslation

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Quote from: X-ray on June 15, 2022, 10:52:40 PM

There's no safe place in the crypto. If you are thinking the centralized exchange site like binance become safer place to store your money and that's very wrong thing. Celcius was in trouble when bitcoin dumped but when the price of bitcoin can sustain and this will make celcius going back again int he safe position again. Bitcoin is also putting the position of microstrategy in the very difficult situation as this company can get margin call when bitcoin was getting more and more bottom.

But why are people storing their money on these centralized platforms anyway when they could be staking something like NEAR or CNDL in their wallet for 10-80% APY without the counter-party risk? You can trade on decentralized exchanges; we don't need centralized exchanges like Binance anymore.

bussybuddy

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Just like the Terra case, I think this doesn't seem to be one of the last victims who will experience the same problem. Given the current market landscape, we see Celsius holding Bitcoin exactly like Do Kwon held Bitcoin during the UST crisis. That equates to known selling pressure, causing Bitcoin holders to sell, which causes more panic, and the cycle continues.

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Quote from: Len Saldua on June 14, 2022, 07:56:53 AM

Celsius to blame for the latest crash now ? What is going on here ? I thought Celsius was the safest bet in town after Binance !

What made you think that celsius was safe? I heard tons of bad rumors about them before they went bankrupt and everything I heard about them became true in the end. You should probably read the alternative crypto news sources because some of the news outlets out there don't always tell the truth. (possible shilling for the scam projects knowingly) You can't blindly trust anybody when you are a crypto investor. There is a scammer behind almost every corner.

X-ray

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There's no safe place in the crypto. If you are thinking the centralized exchange site like binance become safer place to store your money and that's very wrong thing. Celcius was in trouble when bitcoin dumped but when the price of bitcoin can sustain and this will make celcius going back again int he safe position again. Bitcoin is also putting the position of microstrategy in the very difficult situation as this company can get margin call when bitcoin was getting more and more bottom.

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Quote from: tbct_mt2 on June 15, 2022, 09:07:36 PM

Stop withdrawals can postpone the panic wave but if the crisis is not handled well, when withdrawal enabled that will causes a new panic wave. Terra Luna is an example on how a bad crisis handle results in very negative reaction from communities.

Actually this is what I mean. For sure those who got their fund locked and once it resume, some of them or majority of them will likely withdraw to fiat or sell their holding due to fear that it would happened again or worse they never get back their funds. So technically this will happened sooner or later, so better be the price of bitcoin increase or else those who are in celcius may create another chaos panic selling once cecius open their services.

Quote from: tbct_mt2 on June 15, 2022, 09:07:36 PM

The withdrawal suspensions on some platforms recent weeks remind people that Not your keys, not your coins.

Now they will understand the risk of centralized platform.

tbct_mt2

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Quote from: cryptoaddictchie on June 15, 2022, 01:33:18 AM

Stopping withdrawals means really bad and panic for some of the investors who put theit funds there. This is typically example of chaos where a platform are probably nervous already on hows the market respond due to fed reports.

Stop withdrawals can postpone the panic wave but if the crisis is not handled well, when withdrawal enabled that will causes a new panic wave. Terra Luna is an example on how a bad crisis handle results in very negative reaction from communities.

Celsius and 3 Arrow Capitals are in pressure and risks. We don't know whether they will handle their crises well and can continue their existence in crypto. If they collapse, there will be 2 bombs in this bear market.

The withdrawal suspensions on some platforms recent weeks remind people that Not your keys, not your coins.

Rengga Jati

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Quote from: Len Saldua on June 14, 2022, 07:56:53 AM

I thought Celsius was the safest bet in town after Binance !

There is no safest bet here.
It is always risky.
Btw, the crypto market is now crashing and it is normal enough for all crypto industries to be crashed. But I see that Celsius also had some increase after its crash. Is it good enough? I am not sure because the market is still very unpredictable. We can not be sure whether it will likely crash again or not.
The crypto fear and FOMO of Celsius are also the same with other previous cases. If you are a high-risk taker, you can utilize every chance to earn profits. But if you are new, it is better to stay away from this kind of project

poodle63

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It just seems like celcius gonna be repeating luna crash, they are going as far as restructuring their orders and freezing the withdrawal, it alone could already trigger panic across many of the celcius holders, although there are recovery happening, it could be a dead cat bounce, because as you know some traders just wanna make returns from the volatility, but in the long term it could be very bad investment.
Basically, holding celcius should get someone highly alerted for the simple fact that their investment could vanish into thin air very fast like luna, just be sure that the luna mistake didn't occur again.

blockman

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Quote from: Hypnosis00 on June 14, 2022, 05:48:13 PM

Quote from: blockman on June 14, 2022, 05:38:58 PM

Yes, it's on trouble. They've stopped all the withdrawals because of their trouble after it was reported that they've sent millions of crypto into another exchange.
An exchange will always be an exchange no matter what it is. Binance is likely the safest to say onto these centralized exchanges but still, don't leave sums of money on them because we've seen them stopped withdrawals.

And besides, Celsius hasn't gone far yet to think they can be trusted and we can put a huge amount in there. It is absolutely no but rather to anticipate such possibility and even in Binance. In fact, leaving sums of money to the exchanges is not a great idea, we are only dealing with a huge risk that might blame ourselves and put in regrets.

I'm not sure how they will address the issues by now since people are already in a panic thinking about Luna. But I hope this will be a different scenario and they proceed to an effective strategy to solve the problem otherwise, it is another exit scam story.

They've got an earn offer and they didn't anticipate that this is going to happen to them. Too bad that they have to end like this and I don't know if they've already filed bankruptcy or not yet. I've heard that nexo try to catch them and offered them to be bought but they have declined.
It's much better if they just let nexo take over them so there's no need to do these things that has already brought fears to all of their investors.

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Quote from: CuriousGeorge on June 15, 2022, 06:40:12 AM

Quote from: Len Saldua on June 14, 2022, 01:26:12 PM

It's highly likely it will crash back down again though, even lower than before. FED interest rate spike is still to come. Also, I've seen giant spikes before ( in price action ) that went right back down , so this could happen too.

If the price of bitcoin will be going down below 20k and believe me people will try to leave from cel for the second time. People can feel worry easily after they were seeing the bad result from the FED meeting. It's still happening right now and yeah you can see how bad the price of bitcoin right now. I would not be surprised if the pump that happened with cel was just for temporary and this will not be for long term

I agree with your forecast, I hold a similar opinion.The second attempt to exit investors seems to be.I still hope for a positive scenario and a market reversal in the green zone, I regret that I did not have time to buy their token when it was so cheap, it was a great opportunity.

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Quote from: Len Saldua on June 14, 2022, 01:26:12 PM

It's highly likely it will crash back down again though, even lower than before. FED interest rate spike is still to come. Also, I've seen giant spikes before ( in price action ) that went right back down , so this could happen too.

If the price of bitcoin will be going down below 20k and believe me people will try to leave from cel for the second time. People can feel worry easily after they were seeing the bad result from the FED meeting. It's still happening right now and yeah you can see how bad the price of bitcoin right now. I would not be surprised if the pump that happened with cel was just for temporary and this will not be for long term

RussianEnglishTranslation

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Quote from: Len Saldua on June 14, 2022, 07:56:53 AM

Celsius to blame for the latest crash now ? What is going on here ? I thought Celsius was the safest bet in town after Binance !

Bro. Bro. You think Binance is safu? Haven't you seen how they lock withdrawals and say that wallets are "under maintenance"? It's because they are trading coins that haven't been deposited on their platform. This is how they manipulate the price. There might be 100 ICP trading for every 1 ICP deposit. When people go to withdraw they have to freeze it until people calm down and cancel their withdrawals. This is how they keep the scam going.

makishart

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Quote from: Len Saldua on June 14, 2022, 03:39:38 PM

Okay hold on, if Celsius is really in trouble, why is the price pumping like crazy !?! Wouldn't you expect people to be selling like crazy ?

A day ago celcius was on a very big trouble as it's almost coming to the liquidation price but the dev was doing another effort to make the liq price even deeper but remember this is crypto when bitcoin can be shorted anytime by the whale. It so many whales will be shorting bitcoin to go even deeper than 15k and this platform will dead very soon. people have been massively selling their cel but after the liq price gets deeper and they are going back again to the market.
It's not a pump

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Quote from: Len Saldua on June 14, 2022, 07:56:53 AM

Celsius to blame for the latest crash now ? What is going on here ? I thought Celsius was the safest bet in town after Binance !

What does Celsius's safest bet mean?
Haven't they failed to manage finances and borrowed big funds but couldn't afford to pay, and if this can't be solved, then for sure they will be finished in the future, I don't think they are the best for their investors, many problems have not been able to be resolved for now

Maybe what he meant is that Celsius has the reputation to be a solid project. However, it turn out to be wrong just like Luna did last month. Everything is crumbling down on altcoin market. And then issuing an statement about stopping the withdrawal is not very good news for all of us.

We don't know if they have some reserves, but I doubt it, meaning this could really be the end for Celsius or it will have a hard time recovering from it.

cryptoaddictchie

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Stopping withdrawals means really bad and panic for some of the investors who put theit funds there. This is typically example of chaos where a platform are probably nervous already on hows the market respond due to fed reports.

Some are probably complaining regarding the issue and msot likely its bad since whether when they will resume the operations.

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Quote from: Len Saldua on June 14, 2022, 07:56:53 AM

Celsius to blame for the latest crash now ? What is going on here ?

It's one of the causes maybe but it isn't the only one.

Blame Papa Powell over Celsius. He is the main reason (though not the only reason) why the market is going down. US Inflation, there are some rumors that interest rates might increase by 50 basis points (0.50%) and also there are some who says that it might go as high as 75 basis points (0.75%), another reason is the Quantitative Tightening that is happening right now. QT doesn't have a good effect with the US Stock Market and we know that US Stock Market and Cryptocurrency have a correlation with each other. It's a domino effect basically but one thing is for sure, we are in a bear market already.

Quote from: Len Saldua on June 14, 2022, 07:56:53 AM

I thought Celsius was the safest bet in town after Binance !

Care to say who said this to you? Safest bet? You must be kidding

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This is a very sensitive time, bad things can happen. It is best to limit depositing to high-interest lending platforms like Celsius, Blockfi, Gemini, Nexo...
If celsius collapses, it will cause the market to panic and confidence in the market will be lost. We just went through the terrible downfall of Luna and I don't expect this a second. Hopefully Celsius will pass and reopen withdraw to investors.

tbct_mt2

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Quote from: bittraffic on June 14, 2022, 11:05:18 PM

Its worse for the holders in the platform because they were not allowed to withdraw. This is the time for withdrawing the funds out because all these always happen during bear market. Bear market always kills the project that look stable but are really not right. Projects revealed to be naked right when the tide goes out as Warren said.

As individual trader, investor, gambler we can understand it. I made same mistake too but as a firm, institutional investor, what mistakes made by Celsius with leverages are something unacceptable. I know they played parts to help the market rose in 2020 and 2021 but they are not like hidden cancer and tumors. Now, it is time for the market to get rid of tumors. Wanting it or not, it will happen. I wish that Celsisus will postpone it for a while and can give their investors some time to withdraw their money.

But withdrawal when is enabled will cause another bank-run that will pull the price down more.

Quote

The worse case for investors again which LUNA scenario is again coming back.

The LUNA meltdown is repeating with TRX and USDD but at least Justin Sun used own money to support the depeg. However I am still watching this case and I hope they will be fine to get their peg back. I don't want them to fail but my belief is not on their side. The success of USDD in this time is important for crypto market. If they fail, the market will be in panic, bank-run will happen again.

bittraffic

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Quote from: tbct_mt2 on June 14, 2022, 10:45:19 PM

Celsius is in very serious trouble. Let's see the latest update on their position.

Quote from: tbct_mt2 on June 14, 2022, 09:48:45 PM

Update

After two rounds of deposit in WBTC, Celsius made another deposit in DAI that works $19M. It is another effort from Celsius team to lower liquidation price to $14,000.

Do you think it is enough to save them? I don't believe so. If they have additional $200M to $400M to increase their collateral, they can be safe from this attack. I don't believe they have such money or be able to borrow such money from any entity.

It seems there is a very bad ending waiting for Celsius. I know if Celsius liquidated, it will be another fiasco for crypto market.

https://twitter.com/DylanLeClair_/status/1536806455394897923

If you have ever experienced margin trading and faced with liquidation, you will see that their position now is unsafe. Making additional deposits as efforts to protect your collateral, to avoid liquidation are something stupid, if the additional capital is not big enough.

In this case, it's a damn hell unsafe in my view.

Its worse for the holders in the platform because they were not allowed to withdraw. This is the time for withdrawing the funds out because all these always happen during bear market. Bear market always kills the project that look stable but are really not right. Projects revealed to be naked right when the tide goes out as Warren said.

The worse case for investors again which LUNA scenario is again coming back.

Topic: Is Celsius in trouble ?!? (Read 338 times)