The Celsius (CEL) community has come together on Twitter once again to fight short positions against their favorite cryptocurrency token. despite multiple challenges facing the exchange, including bankruptcy and rumors that the company’s CEO is fleeing the United States.
Thousands of tweets tagged #CelShortSqueeze have been posted on the social media platform, announcing their long CEL positions while encouraging others to do the same. and publish more content about the short squeeze or bullish contraction. According to Twitter user Anakinsdad, the community is “at war with short positions”. Another user posted:
que #CelShortSqueeze teaches you is never to go against a community led movement. The probability of snowballing is huge if not almost certain.
— Midas (@____Midas_____) August 9, 2022
What #CelShortSqueeze teaches you is that you should never go against a community-led movement. The probability of a snowball being created is enormous, if not almost certain.
Short selling is a strategy that allows investors to profit from the fall of a token or a share. It consists of borrowing shares and selling them immediately to buy them later at a lower price. Secondly, A short squeeze occurs when contrarian investors begin to buy an asset en masse short, and instead of prices falling, prices skyrocket, causing losses for the short sellers..
This is not the first time that the Celsius community has made an effort to short squeeze CEL.. Back in June, community members who refer to themselves as “Celsians” crafted an unofficial recovery plan to force CEL short sellers out of their positions by driving up the price of the token.
In July, the Celsius company informed its users that they had filed for Chapter 11 reorganization, which is also interpreted as filing for bankruptcy.. This comes after the company’s infamous liquidity crisis, during which users were unable to withdraw their funds from the platform.
Following the bankruptcy filing, the company’s lawyers have argued that its 1.7 million registered users gave up legal rights to their digital assets.yes Summarizing Celsius’s allegations, attorney David Silver explained that in the case of cryptocurrencies deposited in Earn and Borrow accounts, users should stop considering the assets as their own.
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