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.