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CNBC’s “Crypto Trader”: Bitcoin to Go Down, Cardano and NEO to Rise

  • Yuri Molchan
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    CNBC host is bullish on ADA and NEO, bearish on Bitcoin


CNBC’s “Crypto Trader”: Bitcoin to Go Down, Cardano and NEO to Rise

Ran Neu-Ner is one of the people whose influence in the Blockchain industry is pretty high. On Thursday he took part in the CNBC “Fast Money” show and claimed that Bitcoin is going to drop even lower than it is now. However, he is being optimistic regarding Cardano (ADA) and NEO platforms.

Earlier and latest predictions

On the same TV-show earlier in June this year, when BTC cost around $6,860, Neu-Ner predicted it to slide to $5,900. This time the man came to the show again and– surprise, surprise– Bitcoin stood at $5,915.

To the question regarding the future of BTC, he replied that there’s more blood to be spilled. Neu-Ner expects 62 percent chance of the bear market pushing on and Bitcoin to test the $5,350 mark next. 16 percent chance is for the bullish trend to arrive.

In this case, the market should expect the coin to go up to $7,400 and test this level. The former, he believes, may happen within the coming two weeks.

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How miners will react

Neu-Ner was also asked about how the possible BTC price slump might impact the mining cost. The answer was that it is highly likely to rise and that many will just switch off their miners, thus depriving the network of a large number of nodes with all the consequences to follow. He said that some of his sources have already reported that some miners have begun getting off this mining train.

One the one hand, this would mean that the mining rewards would be distributed between fewer operators. On the other, this would greatly reduce investments in the mining industry and profits from selling the necessary equipment.

Bullish coins

When asked if there are any bullish projects, Neu-Ner replied that currently platforms for making decentralized apps (DApps) are much undervalued. Due to this, he named NEO and Cardano as his favorites.

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Cover image via u.today
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About the author

Yuri is a journalist interested in technology and technical innovations. He has been in crypto since 2017. Believes that blockchain and cryptocurrencies have a potential to transform the world in the future. ‘Hodls’ cryptocurrencies. Has written for several crypto media. Currently is a news writer at U.Today.

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