Yeah - I picked up a loan last August & I agree with what you're saying. It's a small loan but there is no price that bitcoin cannot go to. Price is set on the margins. The thing that catches most offside is that as the price drops, extra collateral provides increasingly less value to prop up the loan. A small loan can quickly risk your whole stack through your exponentially diminishing collateral. Sometimes it's best to cut your losses early. Run through your calculations & scenarios - know the lowest price that you can defend your loan to (mine is about $6K).