Hi there i am asking this because i took out a loan at Nexo against my bitcoin. They told me my collateral bitcoin would have to drop 40 percent before they would start selling my bitcoin if the LTV threshold was passed. For me that would be if bitcoin were to drop to around 5900 in price. So my question what are the chances of bitcoin dropping back to below 5900 again? I know anything is possible like what happened in march but realistically at this stage and time, what are the chances of that happening and me losing all my bitcoin? Thanks
TBH, we can't see anything of what really it happens in the coming days, though it all seems possible but can't assure that we gonna fall that price in a very specific time. In your case, you are probably be waiting for so long and that is a big loss for you by then. Why you agree with this? What if the price won't fall? Do they still keep your Bitcoin and keep waiting? Better not to have this loan if this will go like this. Really bad on your part...
We are moving above $10k, quite to see that it keeps moving high slowly, and this somehow will kept your Bitcoin in their hands coz it probably the price won't make another dump until the end of this year. And that is difficult next year as halving will most likely to have its impact.