The crypto expert and Bitcoin supporter Ran NeuNer said he does not believe Bitcoin will reach $50,000 this year. In the past, he pinned a tweet in which he said that Bitcoin was going to finish 2018 at $50,000 dollars. Since the beginning of 2018, the cryptocurrency market is in a bear trend that does not seem to have yet an end.

Ran NeuNer Rescinds His Bitcoin Price Prediction

At the beginning of the year, in February, Ran NeuNer wrote a tweet saying that Bitcoin was going to reach $50,000 at the end of the current year.

However, the market was not able to follow his prediction. Several virtual currencies lost more than 95% of their value and Bitcoin couldn’t recover from the correction it experienced after reaching $20,000 dollars in 2017.

According to comments that he gave, he had to change his stance since the market turned to behave in a different way than expected. Additionally, he said that he does not have a new prediction for Bitcoin by the end of the current year. On the matter, he commented:

“Given we are in a bear market and no goods news is moving the market, I can’t see a $50k BTC this year.”

Bitcoin has recently celebrated its tenth anniversary. Satoshi Nakamoto released Bitcoin’s white paper on October 31st, 2008. This happened during the financial crisis that affected the whole world between 2008 and 2009. About it, we have written an article in which we talk about the most important things that marked Bitcoin’s first ten years.

There are many experts that have predicted Bitcoin to reach new all-time highs in the near future. Perhaps, the most known Bitcoin supporter is John McAfee. He said that Bitcoin could reach between $1,900,000 and $2,600,000 in the next two years.

Tim Draper has also predicted $250,000 in over three years. Other individuals such as Arthur Hayes had a prediction very similar to the one made by Ran NeuNer. Hayes said that Bitcoin could reach $50,000 by the end of 2018.

Dan Morehead mentioned that Bitcoin was going to end the year higher than $20,000 dollars. And finally, Anthony Pompliano predicted Bitcoin to reach $50,000 in 2018.

At the time of writing, Bitcoin is being traded close to $6,330 dollars. Its market capitalization is $109 billion dollars.

 

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