Ran NeuNer, the host of CNBC’s CryptoTrader show, has rescinded his earlier prediction that Bitcoin (BTC) will reach $50,000 by the end of 2018, in a tweet Thursday, Nov. 1.
NeuNer’s original prediction post from Feb.1, 2018 stated: “For the record, I am pinning this tweet. Bitcoin will finish 2018 at $50 000.” In his tweet today, the analyst stated the exact opposite of his original prediction, without providing an updated alternative price range:
“For the record, I am pinning this tweet. Bitcoin will not finish 2018 at $50,000.”
The CNBC host told Cointelegraph in private comments today that he had changed his stance due to the recent state of the market, explaining he wanted to “clarify” his position:
“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 asked if he had a concrete alternative prediction for Bitcoin’s price range approaching year’s end, NeuNer answered bluntly, “Nope. [T]oo complicated.”
Yesterday, Oct. 31, as the crypto community celebrated the 10th anniversary of Bitcoin’s whitepaper, crypto markets stabilized following recent mild losses, with Bitcoin trading just above $6,300.
For several weeks prior, BTC was trading steadily within the $6,400-$6,500 range, seeing a minor decrease Oct. 29-31.
Bitcoin’s price historically peaked at $20,000 in mid-December 2017, dropping to around $9,000 by early February when NeuNer made his $50,000 prediction.
Bitcoin is currently trading around $6,316, up just under 1 percent over the past 24 hours to press time.