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
There is equal number of chances of that happening in a specific time period , it's not in the control of any authority , therefore anything can happen , that's the whole idea about decentralization , no one controls it and therefore no one can literally tell you what the next price is going to be.
I see you have taken a huge loss , I would recommend you to not count on Bitcoins dropping till 5900$ since right now we are seeing some positive signs therefore for a brief period of time when pandemic is right at our doorsteps and at the same time online transactions , online casinos , trading is sky high , right now the implications of Bitcoins are large so it dropping might be doubtful.
You have to wait .
It's more like a bet.
No one knows if it might or might not happen ~