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Crypto Analyst Withdraws Bitcoin’s $50,000 Mark Prediction

Analyst Ran NeuNer has now distanced himself from a prediction he made back in February.


 

Ran NeuNer Explains Why Bitcoin Won't Hit $50,000 Mark

Top cryptocurrency analyst Ran NeuNer no longer believes that bitcoin can attain the $50,000 mark. The CNBC host had earlier predicted that the top cryptocurrency will hit the mark before the end of 2018. He retracted his prediction on Thursday through a tweet.

NeuNer made the prediction early this year. In the wake of bitcoin’s market rally. In a tweet posted on Thursday, the expert noted that we should expect the opposite of what he had predicted back in February. He affirmed that bitcoin will not end the year at $50,000.

Speaking to Cointelegraph NeuNer said that he had resolved to withdraw his prediction following the current state of the market. He cited the current bear market as the reason why the prediction of $50,000 cannot be attained at the moment. On whether he had a solid alternative to his prediction, NeuNer maintained that he had none.

His retraction comes just a day after bitcoin marked 10 years since it was created by Satoshi. This year has witnessed a plunge in the bitcoin's value. However, bitcoin and other altcoins have managed to stabilize. At the moment, the crypto is trading at $6,300. In recent months, bitcoin has stabilized in the range of $6,400-$4,500.

Towards the end of 2017, the value of bitcoin reached its all-time high value of nearly $20,000. By February, bitcoin had dipped to $9,000 the period when NeuNer made the prediction.

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