$Hive new support at $0.5? | $2billion hole in Celsius balance sheet. S.B.F bows out of deal.

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(Edited)

Hive new support at $0.5?

Bitcoin doesn’t seem to have bottomed out yet but Hive seems to have. Hive market pumped for two straight days which is very unusual, usual Hive pumps are short and followed with quick dumps.

This one however looked different and it all started when Hive started showing signs of bottoming out at $0.3. Plus it’s worth mentioning that major volume was coming from upbit.

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Certainly it’s too early to say for now, but looking at how the rest of the market is bleeding compared to Hive’s market price action, there’s a lot to say that doesn’t need to be said.

Who will save Celsius now?

Apparently, the dark clouds from the cascade effect of the Terra crash is still hovering around crypto, Major crypto lending platforms have been hit, Celsius which was next after Blockfi, at the brink of liquidation was to be saved by the FTX guy Sam BankmanFried.

Unfortunately, word on the street has it that the deal has failed to go through due to a $2billion hole in Celsius balance sheet. 🥵Liquidation issue is very much becoming insolvency issue.

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The market did not react nicely to this news. We watched the price of Bitcoin dip below $20k and Ethereum followed at $1k. Most are wondering where the bottom will be. But these centralized lending crypto platforms are bent on bleeding crypto on their way out, bottom doesn’t seem to be anytime soon.

BTC >> ETH

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Word on the street also has it that FTX went ahead to close a deal to acquire Blockfi instead, at $25m.

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16 comments
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I guess my $1200 on Celsius is gone then xD

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Not sure, but it seems like it. Sorry about that. This shit show keeps getting shittier

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Ye well, it was only $1200 dollars x) Not a life changing amount and luckily I didn't have my entire savings in Celsius like other people :/

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I think that is very optimistic :D I am thinking 40-45 cents as a bottom, but even if it goes a but lower than that the pump prevented a much more bearish scenario. I also am optimistic about the future :)

https://peakd.com/hive-167922/@tobetada/crypto-analysis-or-hive-pump-finished-here-comes-the-dump

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40-45 was my first choice. But 3 days above $0.5 compared to the rest of the market says a whole lot.

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Good to see HIVE performing well contrary to the state of the bleeding market.

Celsius drama continues I thought they managed to sort out their sh*t. It's not looking like we will be out of this bear market soon.

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There’s a good side to everything. Institutions can learn from these mistakes to avoid them in the future. We are just beginning. These fuck ups only mean that there are certainly better ways to do these things. Future is bright

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Sadly, there seems to be no Hope for Celsius.

Hive on the other hand is holding strong than ever which is a good thing. Hope it's keeps shielding the bear when the market dips further.

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