Too many people adhere blindly to that "buy the dip" mentality that works in securities but not in crypto. Celsius, the failure of a CEX that halted withdrawals after it got caught on the wrong end of a 3AC ponzi, has had a resurgence. From lows around $1.20 to a price of $1.85 or so at the time of this writing, the $CEL token seems to be going the wrong way considering the performance of its underlying asset.
Before you go jumping into a vat of poison, understand a few things.
1. Dead projects can continue to trade. If you just take a stroll around the wreckage of Coingecko or Coinmarketcap page 15 or higher, nearly every third project will be a fuckin waste of space. These coin aggregation platforms do a shit job of cleaning up garbage, and even the exchanges don't delist a token unless there is a huge problem. (Remember, they get paid off simple transactions, not whether a token actually does well or is ethical or whatever.)
Binance will delist $LUNC because of the press and backlash (and relist it 2 weeks later), but there are tons of dead coins with teams that have long since abandoned those projects still trading.
2. There's a sucker born every minute. Terra completely fuckt everybody because of Do Kwon's arrogance, and he just announces Luna 2.0 and has another entire new group of sycophants ready to go. What's more, the original fucked up chain tries to form a fuckin DAO and keep going. WTF? And they might just get it together, but should you spend your rent money betting they do? I'd say no!
3. There are a lot of rich people with nothing better to do. A lot of crap still trades because you've got anon rich mfers who made out like bandits during the bull market and are now just playing with pocket change. Well, THEY call it pocket change. You call it a new Toyota Camry. If you made $1,000,000 in the crypto bull run in 3 months, what's it to ya to throw a couple thousand in on some dead project just in case it 1000Xs? Not an issue at all.
But you're not them, so don't get fooled into thinking a project is really coming back just because some rich speculators are throwing Hail Mary's.
Celsius sucks. Bottom line. The motherfucker hired a pornstar to do his financials. WTF.
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