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?
Sorry but I don't look like that and the market as well... We have that $9k for a few months and we think that it drops that 40% because we are able to move fast. Yes, dumps can't be neglected to happen but not that much, bouncing back at $9k again, will that seem to be possible but not at $6k below.
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
You'll never lost it if you will still keep it and believe Bitcoin's capability. Besides, we are not in the Bullrun yet to think that huge drops will follow just like it happens last 2017 Bullrun. I believe that is not the real scenario this time and to know that the market behaviors looks different from the past.