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
In the Bitcoin market, anything can happen, it is difficult to give you a commercial advice because many times it depends on the criteria of each person, but I recommend that you learn to read the volume and shape of the Bitcoin graph to months, weeks, days, and there you can have a market perspective, everything is always a risk.
I recommend that you believe a little more, it is likely to go down, but just as it is likely to go down it can go up substantially, in fact it has been going up, but it is your money and in the end it is your decision.