Crypto Analyst Ran NeuNer Retracts His Claim That Bitcoin Will Hit $50K in 2018

Ran NeuNer, the host of CNBC’s CryptoTrader show, has rescinded his February prediction for Bitcoin’s 2018 price peak.

Ran NeuNer, the host of CNBC's CryptoTrader show, has rescinded his earlier prediction that Bitcoin (BTC) will reach $50,000 by the end of 2018, in a tweet Thursday, Nov. 1.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.