What are the chances of bitcoin taking another dive? - page 4.

GreatArkansas

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Quote from: btc_angela on July 26, 2020, 09:48:00 PM

Quote from: GreatArkansas on July 26, 2020, 08:09:30 PM

$5900 is really possible, especially what happened last March, $10,000 dump below $4000 in just span of hours, when the pandemic corona virus began to spread all over the country.
(...)

But what will be issues that we can foreseen that will pull the price to -40%? Another pandemic? Top exchange getting hack? So I will go to say no, at this point, not expecting that we will see another massive dump for this year, pulling the price around $5k-$6k levels or another corona virus effect on the market.

This is also what we think before that huge dump in March 2020, which lot of people the coronavirus could be help or boost bitcoin price because people will start to stay at home and use Bitcoin for their transactions, but it still dumped, and I think it's already given since even stock markets also dumped.
Maybe second or more waves on this coronavirus? Or another pandemic? Well, there will be more incoming FUD.

btc_angela

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Quote from: GreatArkansas on July 26, 2020, 08:09:30 PM

$5900 is really possible, especially what happened last March, $10,000 dump below $4000 in just span of hours, when the pandemic corona virus began to spread all over the country.
Just like that, almost 50% of it's price was dumped. So my expectation is maybe another issue that will cause bitcoin dump again, especially there are lot of panic sellers in Bitcoin.

But what will be issues that we can foreseen that will pull the price to -40%? Another pandemic? Top exchange getting hack? So I will go to say no, at this point, not expecting that we will see another massive dump for this year, pulling the price around $5k-$6k levels or another corona virus effect on the market.

Kemarit

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Quote from: kiddex on July 26, 2020, 07:54:22 PM

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

Slim, unless there's a massive FUD that will really sow panic to the investors to liquidate and sold-off.

But so far the overall health of crypto market is very good and we're not seeing any negative news and as you can see we just breach $10,000 briefly, meaning confidence is high right now.

Velkro

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Quote from: GreatArkansas on July 26, 2020, 08:09:30 PM

$5900 is really possible

I think that too, but when or if is up to market.
Value of $ went down so much, that price of Bitcoin would need to go up a lot only by this.
Market is ultimate judge here tho, we will see.

ranochigo

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The drop in March was unprecedented due to the Covid-19 situation. It was just following the market trend with the uncertainty of the situation around the world. I don't see Bitcoin having a huge drop in the near future, barring any ruling by governments that is not in favour for Bitcoin. Given the fact that the government's aren't really paying attention to Bitcoin nowadays, I don't see any new ruling that would jeopardize Bitcoin.

GreatArkansas

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Activity: 2506

Merit: 1394

$5900 is really possible, especially what happened last March, $10,000 dump below $4000 in just span of hours, when the pandemic corona virus began to spread all over the country.
Just like that, almost 50% of it's price was dumped. So my expectation is maybe another issue that will cause bitcoin dump again, especially there are lot of panic sellers in Bitcoin.

kiddex

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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

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