Here’s Why Celsius Halted Withdrawals, Is it Time to Panic?

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Celsius has put a stop to all withdrawals, swaps, and account transfers between users at this time. Celsius furhter said – number one priority is to serve the needs of our community in the most effective way possible.

Why Celsius Halted Withdrawals

In a Medium Article Celsius Announced

We are taking this necessary action for the benefit of our entire community in order to stabilize liquidity and operations while we take steps to preserve and protect assets.”

As a Result of This, Celsius Has Crashed more than 50% in last couple of hours after the announcement. While, as announced by Celsius, resuming the ‘Celsius platform will take time and even there may be delays’

Bitcoin Dips Below $25,000, is it Time to Panic?

Interestingly, Due to the bitcoin dump, Celsius Platform couldn’t process the withdrawals due to many factors including Liquidity being the Main Factor

Bitcoin Dips Below $25,000 as the Bearish momentum continues. Strong support at $24450 if Bitcoin Doesn’t Hold this, bitcoin probably will trade at $20,000 – $22,000.