Post
Topic
Board Speculation
Merits 4 from 3 users
Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion
by
ivomm
on 14/06/2022, 09:23:39 UTC
⭐ Merited by vapourminer (2) ,JayJuanGee (1) ,aesma (1)
So, BTCitcoin fell to 20K as some were hoping for. But what was the reason for that. From what I've read in https://www.zerohedge.com/markets/great-celsius-implosion-what-went-wrong-and-how-much-more-will-bitcoin-drop it is another imploding "blockchain" company.

tl;dr. Celsius may have started as an arbitrage platform giving yield for those fools lending their BTC and shitcoins. But as the arbitrage dissapeared 6 months ago, they simply became a ponzi risking their client assets by making enourmous shorts. They had more than enough BTCitcoins to stop any increase in the price, liquidating practically 100% of the longs. But their problem is that what they do is perfectly visible by everyone. People started to realize slowly they've been scammed just like bitconnect.

 Now their margin call is at 16.8k (used to be 18.3K yesterday) as seen in https://oasis.app/25977#Overview. How much collateral BTC they will be able to add is unknown. Now we have a proof that all this downard pressure in the last 6 months was caused partially by this ponzi, who could give yields in BTC only if the price was falling. So, we need to cut off the cancer ASAP. People have to withdraw their funds and invest properly in BTCitcoin. After that I'm quite confident BTCitcoin will start recovering.