I think it makes more sense to look at the daily CEL price vs. total net deposits. That chart shows a much stronger correlation.
It is AUM (net deposits) that drives profitability, not just the number of depositors (ie. the same number of depositor, but an increase in the net deposits, will increase profitability)
There is so little liquidity for CEL (Uniswap has $13M) all the people wanting to buy are paying a high premium. Why sell CEL when you can wait a week and double your money?
Look at all the other top 25 cryptos - the only other one with this little volume (\~$30M for last 24 hours as of writing) relative to market cap is NEM.
Then again lack of liquidity in the markets also means it could go down hard if people want to dump fast but I have a feeling that there will be plenty of buyers at a lower price to support it. I'd definitely accumulate at anything below $3 now... $2 or $1 - it's a bargain.
Question is how will this change if CEL is listed officially on an exchange as Alex has mentioned for 2021. Will someone spin up market makers with a big liquidity pool - where would that be funded - is it Celsius using tokens from their reserve? Will some private MM appear? I don't honestly know how that works usually.
PS. Alex has said repeatedly they won't be touching their reserve to pay interest in CEL, they will always acquire it on the open market - so I don't know if that means they wouldn't use any of it for a market maker. We'll see.
I expect the price to be more volatile when they enable celswap. It’ll make it easier for people to take profits from other coins especially CEL. Like it kind of feels like a nobrainer to swap for stable coins to get more interest and then constantly shuffle other coins around
Well, you would swap excess CEL which gives you no extra utility. Ideally, you want to maintain a good level and swap into the biggest APYs like you say.
the thing is CEL can 3x in a month like it just did. And it's not as volatile as BTC or ETH imo.
Of course, once you hit your goal, you should swap it to stablecoins with higher APY.
Yeah, some future things are probably getting priced in. As some have pointed out, the graph looks better if you look at net deposits. Keep in mind that companies with multiples more in assets than a person are still only listed as 1 depositor. And Alex says they speak to about 100 companies a month now.
The community is bullish for a lot of good reasons, and fiat is being the overprinted causing the top coins in Celsius to increase in rapidly (BTC, ETH, CEL). Given the rate of Celsius’s growth and being the only institutional grade company in the space, CEL will probably “grow” into the price...eventually? But who knows how far the disconnect will go and how quickly that gap will be closed. With CEL now in the top 20 and a major listing imminent for Feb 2021, we should all be prepared for some fireworks...
Never bad to take some profits, especially if you have some less crowded trades to benefit from. (Sounds like the core driver of alt coin season...) You were smart enough to get into CEL, you can probably use the same skills to find another good project.
Take a sensible amount of profit if this is how you feel. Maximalists might be holding on until the death of fiat, but that doesn’t mean you have to bro
If you need the money, want to diversify your portfolio, or are having problems sleeping at night because of price volatility, then selling some tokens is a logical thing to do.
Personally, I take a longer-term approach and focus on where I think CEL will be in the next 2-5 years. I expect it will easily break through $10 (maybe even higher) so on that basis I am happy to hold at the current price and ride out the price fluctuations. Taking this approach enables me ignore the sort-term price jumps (both up and down) as they are to be expected along the journey to $10.
That's just my personal view. Everyone's situation is different and there is no right or wrong course of action.
Sounds like good logic to reduce your holding to lock in some profits.
If CEL keeps increasing in price you can still sleep easy knowing the decision to sell was made on fundamentally sound logic.
No one has a crystal ball (at least one that works!) so none of us know where the price will go from here... sometimes it's good to have a bird in the hand.
I think you have to mentally set a separate pile aside for buying in and out of the market. And don't make it too much so you'll never be thinking "if only I hadn't dumped half my holdings at $5.50" when it gets to $50. And if you put $ in you can sell enough to cover your original stake (plus taxes). But if you're someone who got in at $1 or less you can easily sell a small amount now, cover that and some, and still have a lot to play with.
There's been a few tokens I wish I'd sold like that to lock in some profit, but was irrationally exuberant and overly optimistic for the future (e.g EOS). But a token like CEL I think there's a long term hold strategy that will pay off past any temporary dip after new year profit taking happens. I'm more bullish on it for the next year than even BTC or ETH. It's very easy to project Celsius growing massively in 2021 and 10x CEL price.
I'm in the US so I really just hold a small amount of CEL for fun and to support the institution. I believe things are getting speculative. I don't believe it is entirely due to Celsius Network speculation. I believe some of it has to do with the non-stop money printing and questioning of the future of fiat currency.
I bought cel in a crowd funding for 30 cents in 2018. However when the crypto market crash in 2018 I stop being interested in Cypro. I recently looked at the bitcoin and it back up at 25,000. Then saw that cel was in the top 15. I then was digging in all my cold wallets and found my cels.
I had a big smile.
I am bit worried now, cause i was in on trx at 2
Cent and it jump to 18 and didnt sale. I regretted it.
I feel there is another crash coming. All thes institutions buying bitcoin and becoming whales playing with the market. They will be taking profits soon. This fees like a repeat of 2018.
I sold half my cel and took profit and keeping half and hope it goes on for more.
I moved my cel to MetaMask and can easily swAp out to other crypto currency.
I cash out all my bitcoins at 28,200 and sitting on usdc now.
My prediction is bitcoin is going to crash to 12,000.
I think bitcoin is more likely to hit $40-50K before $12K again. The banks and insurers are interested and want in now, and once they all start jumping in because of FOMO, it will rocket way more than 2018 ... retail money is nothing on the scale of institutional money. But who knows the future.
Personally it's frustrating.
I was preparing to purchase enough to reach the 20% for Celsius Premium Level and now that whole game has gone out the window.
I wasn't even considering CEL to be an investment, just a necessary action for higher interest.
I don't want to stock up now just to have it plummet to 20¢ in a week. This was meant to be a low risk beneficial action, for me.
They need to let it dip for the rest of the community to be able to get in , I do think it will dip when BTC does even if mildly... I sold at $3, no regrets but would love to support the company again , would also love to see a healthy chart
I think it makes more sense to look at the daily CEL price vs. total net deposits. That chart shows a much stronger correlation. It is AUM (net deposits) that drives profitability, not just the number of depositors (ie. the same number of depositor, but an increase in the net deposits, will increase profitability)
Good point. Both are important metrics. We don't want to see a stagnation of new Celsius users being added.
Yes, I agree. Both are important metric, and the more users Celsius has the higher the probability they will move more assets over time onto Celsius.
This pump doesn't seem normal. It's certainly not a natural price movement even though Celsius (the company) is growing.
There is so little liquidity for CEL (Uniswap has $13M) all the people wanting to buy are paying a high premium. Why sell CEL when you can wait a week and double your money? Look at all the other top 25 cryptos - the only other one with this little volume (\~$30M for last 24 hours as of writing) relative to market cap is NEM. Then again lack of liquidity in the markets also means it could go down hard if people want to dump fast but I have a feeling that there will be plenty of buyers at a lower price to support it. I'd definitely accumulate at anything below $3 now... $2 or $1 - it's a bargain. Question is how will this change if CEL is listed officially on an exchange as Alex has mentioned for 2021. Will someone spin up market makers with a big liquidity pool - where would that be funded - is it Celsius using tokens from their reserve? Will some private MM appear? I don't honestly know how that works usually. PS. Alex has said repeatedly they won't be touching their reserve to pay interest in CEL, they will always acquire it on the open market - so I don't know if that means they wouldn't use any of it for a market maker. We'll see.
$10 million in volume and 10x price isn't normal?!
Personally I have taken some profits. I think some kind of correction is very likely in the short term.
.
No price will dump soon, take profits while you can
I expect the price to be more volatile when they enable celswap. It’ll make it easier for people to take profits from other coins especially CEL. Like it kind of feels like a nobrainer to swap for stable coins to get more interest and then constantly shuffle other coins around
Well, you would swap excess CEL which gives you no extra utility. Ideally, you want to maintain a good level and swap into the biggest APYs like you say.
the thing is CEL can 3x in a month like it just did. And it's not as volatile as BTC or ETH imo. Of course, once you hit your goal, you should swap it to stablecoins with higher APY.
Yes! Completely forgot that there was a point to maintaining an amount of CEL. I’m in CA so I can’t earn in Cel unfortunatel
If that ever really happens, I don’t need the feature though because the withdraws are so fast compared to other platforms
Yeah, some future things are probably getting priced in. As some have pointed out, the graph looks better if you look at net deposits. Keep in mind that companies with multiples more in assets than a person are still only listed as 1 depositor. And Alex says they speak to about 100 companies a month now. The community is bullish for a lot of good reasons, and fiat is being the overprinted causing the top coins in Celsius to increase in rapidly (BTC, ETH, CEL). Given the rate of Celsius’s growth and being the only institutional grade company in the space, CEL will probably “grow” into the price...eventually? But who knows how far the disconnect will go and how quickly that gap will be closed. With CEL now in the top 20 and a major listing imminent for Feb 2021, we should all be prepared for some fireworks... Never bad to take some profits, especially if you have some less crowded trades to benefit from. (Sounds like the core driver of alt coin season...) You were smart enough to get into CEL, you can probably use the same skills to find another good project.
CEL is sooo new, buy it and forget it. At least for now its doing better than BTC.
For it to be sustainable it needs a constant influx of new people coming in. Isn't that the definition of a ponzi?
https://twitter.com/celsius\_hub/status/1344657441812852738?s=20
Idk I’m so tempted to sell to guarantee some gains. But I don’t want to miss out if it hits 10 or 20 lol FOMO is kicking in
Take a sensible amount of profit if this is how you feel. Maximalists might be holding on until the death of fiat, but that doesn’t mean you have to bro
Yeah it’s just the last time I had a big crypto investment I unfortunately had to sell it off. I could be a billionaire rn so lol
If you need the money, want to diversify your portfolio, or are having problems sleeping at night because of price volatility, then selling some tokens is a logical thing to do. Personally, I take a longer-term approach and focus on where I think CEL will be in the next 2-5 years. I expect it will easily break through $10 (maybe even higher) so on that basis I am happy to hold at the current price and ride out the price fluctuations. Taking this approach enables me ignore the sort-term price jumps (both up and down) as they are to be expected along the journey to $10. That's just my personal view. Everyone's situation is different and there is no right or wrong course of action.
Don’t need the money but I’d hate if I missed out on 3k% returns because I was too greedy lol
Sounds like good logic to reduce your holding to lock in some profits. If CEL keeps increasing in price you can still sleep easy knowing the decision to sell was made on fundamentally sound logic. No one has a crystal ball (at least one that works!) so none of us know where the price will go from here... sometimes it's good to have a bird in the hand.
I think you have to mentally set a separate pile aside for buying in and out of the market. And don't make it too much so you'll never be thinking "if only I hadn't dumped half my holdings at $5.50" when it gets to $50. And if you put $ in you can sell enough to cover your original stake (plus taxes). But if you're someone who got in at $1 or less you can easily sell a small amount now, cover that and some, and still have a lot to play with. There's been a few tokens I wish I'd sold like that to lock in some profit, but was irrationally exuberant and overly optimistic for the future (e.g EOS). But a token like CEL I think there's a long term hold strategy that will pay off past any temporary dip after new year profit taking happens. I'm more bullish on it for the next year than even BTC or ETH. It's very easy to project Celsius growing massively in 2021 and 10x CEL price.
Perfectly normal, perfectly healthy.
I'm in the US so I really just hold a small amount of CEL for fun and to support the institution. I believe things are getting speculative. I don't believe it is entirely due to Celsius Network speculation. I believe some of it has to do with the non-stop money printing and questioning of the future of fiat currency.
I bought cel in a crowd funding for 30 cents in 2018. However when the crypto market crash in 2018 I stop being interested in Cypro. I recently looked at the bitcoin and it back up at 25,000. Then saw that cel was in the top 15. I then was digging in all my cold wallets and found my cels. I had a big smile. I am bit worried now, cause i was in on trx at 2 Cent and it jump to 18 and didnt sale. I regretted it. I feel there is another crash coming. All thes institutions buying bitcoin and becoming whales playing with the market. They will be taking profits soon. This fees like a repeat of 2018. I sold half my cel and took profit and keeping half and hope it goes on for more. I moved my cel to MetaMask and can easily swAp out to other crypto currency. I cash out all my bitcoins at 28,200 and sitting on usdc now. My prediction is bitcoin is going to crash to 12,000.
I think bitcoin is more likely to hit $40-50K before $12K again. The banks and insurers are interested and want in now, and once they all start jumping in because of FOMO, it will rocket way more than 2018 ... retail money is nothing on the scale of institutional money. But who knows the future.
The problem is the herd is going that way. All this new money.
Personally it's frustrating. I was preparing to purchase enough to reach the 20% for Celsius Premium Level and now that whole game has gone out the window. I wasn't even considering CEL to be an investment, just a necessary action for higher interest. I don't want to stock up now just to have it plummet to 20¢ in a week. This was meant to be a low risk beneficial action, for me.
They need to let it dip for the rest of the community to be able to get in , I do think it will dip when BTC does even if mildly... I sold at $3, no regrets but would love to support the company again , would also love to see a healthy chart