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
Feel sorry for you mate but chances are?as of this moment and at least this whole year?there will never be a 40% dropping until this year ,because we are heading to bull and no sign of bearish are coming.
i know that this is hard to accept but reality is mate,look how much bitcoin pricing now?how can you expect it fall to 5k level .the last surge last march is about the effect of corona virus and many had panic and whales take the advantage.
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
The possibility is high, we all know that every after sudden increase in price of bitcoin, especially if its jump is too quick to go up just the way it is right now, a dump is expected. Or if it continues to increase even further, its dive will also deeper than our expectation. It might reach your expected dive when that time comes or maybe around $6-$7k.
what are you pointing is correction but 7k?that is too far from reality mate.remember that this year halving happens and if only this pandemic did not come?for sure we are mooning by now so lets accept that there will be 40% drop off price.
maybe 8k level is high enough before the real bull starts to run.