Bitcoin Price: ‘More Blood to Come’ as Cryptocurrency Crashes Below $6,000 | Newsweek

he price of the cryptocurrency Bitcoin continued to fall this week, crashing to a low of $5,806 per coin on Thursday. One blockchain expert has now warned “there is more blood to come.”

In early March, the virtual currency was priced at more than $11,000 per coin but has been on a downward trajectory since, balancing out at around $5,900 on Friday. It has been a drastic fall from grace for the headline-grabbing ‘internet money,’ which sold for upwards of $19,000 in late-2017.

Ran Neuner, the founder of a blockchain company who predicted bitcoin’s price would fall to $5,900 earlier this month, told CNBC this week that his models suggest the drop is far from over.

“Unfortunately, the same model that told us we would be going to $5,900 is telling us that there is more blood to come, said Neuner, who runs enterprise technology company Onchain. “[The model] is calling a 62 percent chance of a bear market, and a bear market means that we are going to test $5,350 as the next point,” he added, claiming that the ongoing crash will take place over the next two weeks.

Read complete article here:

Bitcoin Price: ‘More Blood to Come’ as Cryptocurrency Crashes Below $6,000.