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
Thats too low mate for Nexo to expect before settling your loan, i don't think we will dive that low again after the bull we had recently.
actually the market is looking for Hype more and only correction is what we expect to adjust the price,either below 9k or atleast 8k is the lowest.
i think what best you can do is to make arrangement in Nexo to make adjustment towards your request because it will never settle if you will wait for the dive.
Remember that we are closing to Halving effect and this starts recently,now price are staying at 11k meaning only pump is what we are expecting.
I am eyeing for at least $15,000 before the year end after the correction.