Celsius Price Prediction: CEL Coin Pumps 12% As Company’s Focus Shifts To Mining Only. Is CEL Primed To Explode?

Celsius Price Prediction: CEL Coin Pumps 12% As Company’s Focus Shifts To Mining Only. Is CEL Primed To Explode?

Celsius Price Surges by 12%

The Celsius price has seen a whole lot of 12% increase in the past 24 hours as the token now trades at $0.2491 as of 12:20 a.m. EST.

SEC Halts Celsius Reorganization Plan

The sudden surge came after the United States Securities and Exchange Commission intervened in Celsius’s reorganization efforts. The company, which had earlier filed for bankruptcy, now only intends to focus on Bitcoin (BTC) mining, dropping its earlier intend to stake as well. This change was reported in a court filing on Monday.

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New Owner Restructures Celsius

New owner Fahrenheit’s restructuring plan received approval from a bankruptcy court and promised nearly $2 Billion worth of Bitcoin (BTC) and Ethereum (ETH) to creditors, along with shares in the new company. Regardless of the positive response in the market, Celsius’s technical indicators suggest a probable downturn in the near future.

Celsius Price Prediction

Upon analyzing the CEL/USDT charts, it appears that the Celsius price might be preparing for a bearish move. Several indicators such as the MACD and RSI signal a probable downward trend. Increased trading activity has led to a whole lot of surge in CEL’s volume of trading, causing high price volatility.

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BTCETF Token Gains Traction

Amidst anticipation of SEC approval for Bitcoin (BTC) ETFs, the BTCETF token has capitalized on the positive trend sentiment and has seen whole lot of growth in funding. Its tokenomics are closely tied to Bitcoin (BTC) ETF approval milestones, attracting investors’ interest and support.

Surge in Anticipation for BTCETF

Investors are hoping for a surge in the BTCETF token once the SEC approves spot Bitcoin (BTC) ETFs. The token’s community-driven strategy and incentives for holding during the presale have garnered substantial support, and investors can acquire tokens at a reduced price for a limited time.

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Hot Take: Bitcoin (BTC) ETF Token Awaits SEC Approval

As you monitor the Celsius price amid its reorganization, consider keeping an eye on BTCETF’s presale, poised to capitalize on the positive trend anticipation for Bitcoin (BTC) ETF approval.

Author – Contributor at | Website

Insa’s extensive background in the financial realm encompasses roles as a writer, trader, and personal finance coach. Her proficiency spans a wide spectrum, ranging from commodities and indices to forex and cryptocurrencies. Insa’s specialization lies in furnishing strategic investment advice tailored to the fintech investment niche.

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