Recommended Watch: Celsius Crisis Could Cause 'Cascading' Price for Bitcoin, Cryptos Warns Simon Dixon
(youtube.com)
The crypto lending industry, "has created a 2007-style systemic risk event, similar to Lehman Brothers, but built upon digital hard sound money," asserts Simon Dixon, CEO & Co-Founder BnkToTheFuture.com. He describes to our Daniela Cambone that the crypto lender Celsius was pitched to many people as, "a low risk saving account, when actually in fact, it was a high risk security." Dixon shares how he has been rallying the support of the community surrounding Celsius, by providing "better solutions" for a way forward. A doomsday bankruptcy scenario for the company would cause, "cascading liquidations [of cryptos]," where bitcoin would be unfazed, he continues. "I don't care how low the price goes for bitcoin because the fundamentals never change," Dixon argues. He concludes by sharing a heartfelt reason why he felt compelled to help those affected by the current Celsius crisis, and encourages investors to learn from this situation, "have a long-term perspective, get on the right side of trends."
Learn more about suicide prevention below and navigating through financial difficulties:
American Foundation for Suicide Prevention: https://afsp.org/
SuicideLine Victoria: https://suicideline.org.au/thinking-a...
#celcius #cryptonews #mentalhealth
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Chapters:
00:00 Will Celsius be able to turn things around?
4:11 Why does crypto lending matter?
7:38 Have regulators stepped in for crypto lending?
9:10 Risks associated with crypto lending platforms
10:37 Will Goldman Sachs step in to buy Celsius?
12:24 What happens if Celsius goes to bankrupt?
16:30 What kind of bitcoin price drop is expected?
17:41 How long can this crypto ice age go on for?
19:36 How does Simon keep the faith in crypto?
22:26 Is bitcoin still the inflation hedge?
23:43 Final thoughts on investing
Learn more about suicide prevention below and navigating through financial difficulties:
American Foundation for Suicide Prevention: https://afsp.org/
SuicideLine Victoria: https://suicideline.org.au/thinking-a...
#celcius #cryptonews #mentalhealth
⭐️ Join Daniela Cambone's exclusive community ➡️ https://danielacambone.com
➡️ Follow us on Facebook: https://www.facebook.com/StansberryRe...
➡️ Follow us on Twitter: https://twitter.com/stansberry
➡️ Follow us on Instagram: https://www.instagram.com/stansberry_...
➡️ Follow us on LinkedIn: https://www.linkedin.com/company/stan...
Chapters:
00:00 Will Celsius be able to turn things around?
4:11 Why does crypto lending matter?
7:38 Have regulators stepped in for crypto lending?
9:10 Risks associated with crypto lending platforms
10:37 Will Goldman Sachs step in to buy Celsius?
12:24 What happens if Celsius goes to bankrupt?
16:30 What kind of bitcoin price drop is expected?
17:41 How long can this crypto ice age go on for?
19:36 How does Simon keep the faith in crypto?
22:26 Is bitcoin still the inflation hedge?
23:43 Final thoughts on investing
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Francisco Gimeno - BC Analyst Important reflection/interview on the case of Celsius and the whole crypto market. Many small traders and investors have seen their money trapped there and there is no clear solution yet, although the news change rapidly every day. If and when Celsius can fix at least some of the problems and make possible for investors to get their money this would be perfect. But the thing is far from clear. Beyond that, this is a. tragic, but important learning opportunity for the crypto industry, mainly with crypto lending platforms in DeFi. The market will soon or later change and our hopes and expectations is that a leaner better crypto market and DeFi products (possibly regulated) appear.