Bitcoin News Update: Bitcoin (BTC) Now Trading Below the $6k Mark, And Its Value Will Plunge Lower Says a Digital Currency Trader – Ran Neu-Ner (BTC News Today)

The value of bitcoin has been declining continuously over the past couple of days and it’s not showing any sign of recovery. Bitcoin is presently trading below the $6k mark and Ran Neu-Ner – a crypto trader, said that the digital currency would likely go lower.

The Comments of Ran Neu-Ner

He said there is more blood to come. As of 6PM ET Thursday, the digital currency was trading at $5,914. At the moment, the digital currency is trading below that. Neu-Ner said, “Right now his money is on the market, heading south by the minute.”

He also said that there is more than a sixty percent chance of a digital currency bear market – compared with the sixteen percent chance of a bull market.

The founder of OnChain Capita said that a bearish crypto market indicates that the value of bitcoin would soon test $5,350 as its new low. This is actually not the first time this crypto trader has had a grim outlook for the digital currency.

Earlier this month, Neu-Ner said that the value of the coin could drop to $5k. Some say the cost of production or mining of bitcoin outweighs gains once the value of the coin drops to about $8k. But Neu-Ner said that mining costs outweigh gains at about $5k.

The Chaos in the Industry

A lot of digital currency investors have been on the edge over the past few weeks. The value of bitcoin (BTC) started trading below the $6k mark earlier this month for the first time in five months (since February), leaving a lot of investors and enthusiasts to wonder if the phase of the digital currency has indeed ended.

The digital currency bounced back a couple of days later, but the gains did not last it went back below the $6k level. The digital currency is currently trading at $5,890 and no one knows what the next move will be.

Princess Ogono is a writer, lawyer and fitness enthusiast. She believes cryptocurrencies are the future. When she's not writing, she spends time with her adorable cat, Ginger and works out often.

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