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Today I will share you latest news for bitcoin price
Bitcoin fell below $6,000 on Thursday. According to cryptocurrency trader Ran Neu-Ner, it's likely to go even lower. As per ran new ,who is host to CNBC Africa’s crypto trade said more blood is come for market. Bitcoin traser down 3.3 % at $5885.60 on Friday morning As per Neu-Ner statement there’s more than a 60% chance of a crypto trade bear market and 16% chance of a bull market Accourdining to the founder of onchain capita said bear means the market goes new low. This isn't the first time Neu-Ner has had a grim outlook for bitcoin. Sooner this month, he said the coin could drop as low as $5,000. Some say bitcoin mining, or the cost of production, outweighs gains once the price of bitcoin drops to around $8,000. But Neu-Ner said mining costs outweigh profits at around $5,000. That's where the miners look at this and go: 'Is it actually worth keeping the machine on?"' Neu-Ner said earlier in June. "Then we may see a very different game in mining." Neu-Ner reiterated those comments on Thursday and said bitcoin will soon reach a point where "miners find it's not viable to mine. They're going to switch off their machines." He said many miners have already begun doing so. As for bitcoin, the price will continue to drop. "I'm calling $5,350 in the next week or two," Neu-Ner said. While the trader said bitcoin is not a wise investment in the near term, he said now is a good time to consider long-term investments. "If you understand the technology and you're a bull, then now is a great time to be buying," Neu-Ner said. "The blockchain is progressing and this thing isn't going away," he said
Alternatives
While Neu-Ner anticipates further declines in bitcoin, he still calls himself a crypto bull. To determine his next bets in the market, he's looking at blockchain technology and infrastructure. "It's a toss up for me among two coins," he said. Those two coins are neo, the currency used for a Chinese platform similar to ethereum, and Cardano's Ada cryptocurrency. "It's a blockchain protocol," Neu-Ner said, referring to the Cardano system. "Which I think is highly undervalued."
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