What are the chances of bitcoin taking another dive?

[Lucius]

I guess the loan was not taken just like that, but that there is a real need for it - and although it is a kind of gambling, at this point you seem to have chosen a good option. While anything is possible when it comes to BTC, the news that the EU has finally made a decision on the distribution of money seems to have been a positive sign. What remains to be seen is whether this bull run will manage to break $10 500 and move up - or a similar scenario we have already seen will be repeated and the price will return to $9000.

4 years ago after halving the price dropped by about 40%, but that doesn't have to mean anything - we can only hope that what is happening now is not a bear trap.

[Oasisman]

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

It's always wise to be always updated on the fundamental news for you to be able to anticipate the next Bitcoin price movements.
As of now, there won't be any relevant news for Bitcoin to drop. If the $5,900 is the value of the 40% loan agreement before selling, then you don't need to worry as of the current Btc price movement doesn't seem bearish. Infact, that $5,900 level is the worst figure If bears will appear in the market.
All you need to do now is to pay the loan asap while Btc is in a rising trend. It would be regretful on your end If Btc reach new heights and your asset is stucked in a loan service.

[Haunebu]

In my opinion, the chances are pretty low to be honest. More and more people are investing in digital payment systems which clearly includes cryptocurrencies thanks to physical FIAT issues due to Coronavirus these days.

The vaccine will probably be administered to everyone by mid-2021 which is why the virus will continue to wreak havoc till that point due to which crypto demand will stay stable for a relatively long period.

This is simply my analysis based on current world conditions, but there is always a risk of BTC plunging which is why you need to always be prepared to lose your investment.

[Twinkledoe]

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

It's always wise to be always updated on the fundamental news for you to be able to anticipate the next Bitcoin price movements.
As of now, there won't be any relevant news for Bitcoin to drop. If the $5,900 is the value of the 40% loan agreement before selling, then you don't need to worry as of the current Btc price movement doesn't seem bearish. Infact, that $5,900 level is the worst figure If bears will appear in the market.
All you need to do now is to pay the loan asap while Btc is in a rising trend. It would be regretful on your end If Btc reach new heights and your asset is stucked in a loan service.

I guess that's the best thing to do. Pay the loan as much as you can. But $5900 level is far from the horizon at the moment. But in crypto, anything can happen in just few hours. So it is better to pay your loan little by little, at least lessen the amount they are holding against you.

[maximumcoin]

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

Any price is likely to happen but now basing on chart of Bitcoin and trend of market, 5900 USD is a price level which nearly can't happen because according to my analysis, psychology of new investors are putting a lot of faith in Bitcoin when the world are having a lot of instability such as pandemic, trade and political tensions between China and the United States. Bitcoin is a safe investment channel.

[rodskee]

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

Any price is likely to happen but now basing on chart of Bitcoin and trend of market, 5900 USD is a price level which nearly can't happen because according to my analysis, psychology of new investors are putting a lot of faith in Bitcoin when the world are having a lot of instability such as pandemic, trade and political tensions between China and the United States. Bitcoin is a safe investment channel.

With this hypes sentiments of investors are fomoing to ride the train
it's normal when bitcoin is rising
Though there's always chance that the value will bounce back but what
we are noticing is bitcoin
is showing great run, the chance to fall down to that certain fall for now
is slim and with high demands opportunities that it will bring much higher
value may take place.

[btc78]

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

While majority of us are looking for Pump then here you are asking when will be the price drops again?

SOrry but i think you need to look for another correction before this happens mate.

Sorry for your situation but all of us here are praying and hoping for another Pump,so yeah lets just wait what will happen next quarter.

[Benefactor]

Impossible to say something about this by guessing correctly. Considering the current situation, it seems that the price of Bitcoin will not come down to $ 5900 soon. This is just what I said from my little idea. However, there is nothing to emphasize this relationship because anything can happen at any time with Bitcoin. You always have to be ready for all these situations.

[mezzaluna]

Of course there will be always a chance of bitcoin taking another dive. It did skyrocket again this time. If we look at the graph for this year and take a look at the month March, we can see that Bitcoin suddenly dropped to $4k which is still close to $5k but it was noticeable enough. Now, Bitcoins price is skyrocketing that is almost near to $11k and that would be another milestone for BTC.

Watching graphs and analyzing them are the normal jobs of day-traders. They need to create their moves before this increase and decrease happens.

[Chris Barth]

Bitcoin is a volatile dude. Considering that, it is very possible for it to go below that price in 24 hours time. But then, (from my own thoughts), I don't think there's hope of going that low again... Maybe there is but, not now.

[AakZaki]

Of course there will be always a chance of bitcoin taking another dive. It did skyrocket again this time. If we look at the graph for this year and take a look at the month March, we can see that Bitcoin suddenly dropped to $4k which is still close to $5k but it was noticeable enough. Now, Bitcoins price is skyrocketing that is almost near to $11k and that would be another milestone for BTC.

Watching graphs and analyzing them are the normal jobs of day-traders. They need to create their moves before this increase and decrease happens.

Not nearly, but already passed the price of $ 11k to be exact at $ 11,298.22 USD. This is the highest price that Bitcoin can achieve this year. about the chance that BTC will drop to $ 5k it might happen. in the crypto world anything can happen, even the price of $ 5k may be achieved overnight or vice versa, can reach the price of $ 20k overnight.

[Yamifoud]

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.

Well it hopes that FOMO won't start and bitcoins holders will never think of selling by now rather than to hold it.

[amishmanish]

We have just had the halvening. Historically that leads to upticks. Then we are moving into that part of the year when the jumps in price happen. One worldwide worry has been that despite the bad employment situation, the markets seems to continue to surge. This gap between the wealth of richest and subsistence level income for salaried classes MAY lead to some form of social protests. Yet, world over, people don't really have the belly for protests at this time.

A drop to 5900 from ~9500 seems unlikely. Though, one has to ask, what kind of service are they giving if they will start liquidating the assets. As long as they have your BTC, It is with them, right? What is the meaning of providing a loan service that would depend on liquidating your collateral without even checking if you can repay back in time. How does that make sense? Is this the model that most such "loan" services are following??

Yes,this is exactly the model of such loan services.If the collateral value drops under the amount of the loan,the "bank" liquidates the loan by selling the collateral.Loans on Bitcointalk follow the same rules.
I don't think that the lender(in this case Nexo) can really check if OP can repay his loan.
Anyway,this makes me wonder what's the point of sending your Bitcoins as a 140% collateral for a fiat loan.
This doesn't make much sense to me.I assume that OP is in big need for fiat money,but doesn't want to sell his BTC.
The chance of BTC price going back to 5.9K USD in 2020 is 50/50.You can't be sure about anything,when it comes to the price of Bitcoin.

Okay, Sorry i am a little uneducated in this as i have never tried to take or offer any such loans. Yet, if popular services are using even bitcoin as such a collateral then frankly, what is the point of crypto. I mean its understandable if they want to liquidate some alt-coins as collateral because their value is only related to latest pump and dumps.
 That is most definitely not the case with bitcoin. If someone offers fiat loans against bitcoin, they should simply keep them as collateral (Like banks do with immovable property) and liquidate only if the customer is unable to repay the interest or repay the principal amount. If you liquidate based on drop in fiat value, then that is just wrong. The service providers BTC stash isn't decreasing. Why would the loan takers agree to this. Also, does this even comply to any kind of lending/ banking standards??

[Shasha80]

It might happen that Bitcoin is taking another dive, because the price of Bitcoin which is very volatile makes it very difficult to predict.
There is a possibility that the price has jumped back to the price of all timpe high, this possibility is what awaited by Bitcoin investors.
But it is possible that the price of Bitcoin continues to fall, so we must be vigilant and be careful if indeed the price of Bitcoin has decreased.

[gamer4156]

This has happened before with Bitcoin so it is not an impossible thing to happen. The current Covid-19 virus has a small impact on bitcoin its true. However, it did not have such an effect that the price of Bitcoin could go down in a very short time. However, it is difficult to predict what will happen if the Covid-19 situation worsens.

[ChiBitCTy]

Well like you said anything is possible so you never know where bitcoins price is heading but there is one scenario that I'd be praying does not happen that is steve mnuchin coming out with new regulations on bitcoin and cryptocurrency like he said he is working on doing now. No one knows when this is going to be released, but it could be a major issue for bitcoin when it is.

[Alobo Realer]

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

If this internet frauds persist I fear many will panic and switch from Bitcoin. It is a treat on the market and it's price..

Looking at the centralized sectors like the bank where the authority faces every lost in the bank, it is a different case in Bitcoin, the fraudulent acts keep coming and the victim(Bitcoin holder) is affected alone, thus more fear is created.

[serjent05]

A drop to 5900 from ~9500 seems unlikely.

That is what we thought when Bitcoin was around $19k+ and yet it crashes to sub $4k.  Cryptocurrency market is very unpredictable, we all witnessed it so better to have a reserve and expect the worst than caught unaware.

Everyday, there is always a chance of Bitcoin taking another dive.  No matter how good the market is today, we don't know what it will be tomorrow.

[TheUltraElite]

This has happened before with Bitcoin so it is not an impossible thing to happen. The current Covid-19 virus has a small impact on bitcoin its true. However, it did not have such an effect that the price of Bitcoin could go down in a very short time. However, it is difficult to predict what will happen if the Covid-19 situation worsens.

I dont think pandemic had the effect that we had predicted. Most of the naysayers would have said that market is going to go down like anything but then it did dip a bit but backed up very soon. Now I dont think this can be attributed to the pandemic anymore. It was likely due to some other factor.

We have to understand that bitcoin is volatile, if you say so even though the market has been pretty stable for the last few months being above 9k USD and touching 10k this week.

Whether or not a dive down is possible is debatable at this time but if you ask me, I think it will go up a bit more and then dip. So if you are looking to buy bitcoin wait for the dip to happen.

Remember that patience is the key here. Hold you horses cowboys!

[Pamadar]

This has happened before with Bitcoin so it is not an impossible thing to happen. The current Covid-19 virus has a small impact on bitcoin its true.

The nature of this market is very volatile, things happened before and chances that it will do the same is very
possible you need to keep your backup plans.

However, it did not have such an effect that the price of Bitcoin could go down in a very short time.

With more traders and investors, the current rise are being supported by volumes so dumped in a short period 
of time have lesser chance.

However, it is difficult to predict what will happen if the Covid-19 situation worsens.

It can also be the trigger point for new investors to jumped into this industry, as most of them are open
to work with every possibilities.