Cryptocurrency analyst, Ran NeuNer has retracted his earlier prediction when he said that Bitcoin will end 2018 at $50,000. Why did he change his stance?
November 2, 2018 | AtoZ Markets - The host of CNBC's CryptoTrader show, Ran NeuNer has in a tweet withdrawn his earlier Bitcoin (BTC) price forecast that BTC will end 2018 at the price point of $50,000. NeuNer claimed in his original price forecast from February 1, 2018:
“For the record, I am pinning this tweet. Bitcoin will finish 2018 at $50 000.”
Why Ran NeuNer Withdrew His Bullish Prediction
The analyst, however, retracted his earlier prediction in a tweet yesterday and stated the exact opposite without providing an updated price range forecast:
“For the record, I am pinning this tweet. Bitcoin will not finish 2018 at $50,000.”
AtoZMarktets discovered that the Cryptotrader show host, and the 28th most influential blockchain insider according to Richtopia, had changed his stance due to the ongoing bearish trend in the market. NeuNer further explained that he wanted to “clarify” his position. He has been quoted as saying:
“Given we are in a bear market and no good news is moving the market, I can’t see a $50k btc this year.”
When he was asked if he could make a new concrete prediction on how the price of Bitcoin will end 2018, the analyst declined bluntly by saying it is "too complicated.”
Bitcoin Price Rallies
Moreover, the price of Bitcoin’historically rallied at $20,000 back in December 2017. The price, however, plummeted to around $9,000 by early February when NeuNer gave his $50,000 price forecast.
Today, the flagship cryptocurrency is seen trading in the green on Friday after the crypto community commemorated the 10th anniversary of Bitcoin’s whitepaper.
BTC is up 0.25% on the day following a bullish trend that has reached $6,380 while targeting the $6,400 level.
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