But despite the recent downturn, many cryptocurrency bulls expect that institutional investors will pour into the market.
Here is a recap of the top five cryptocurrencies by market cap as of 3:30 p.m. EST:
|Cryptocurrency||Market Cap||Price||Change (24h)|
|Bitcoin Cash (BCH)||$11,346,976,706||$659.32||-5.49%|
Now here's a closer look at today's top cryptocurrency stories...
The Top Cryptocurrency Stories for June 29
- The price of Bitcoin has been struggling, and it could soon fall all the way down to $5,000 or lower. But at that point, it would be a screaming "Buy," according to Mohamed El-Erian, chief economic advisor at Allianz SE. During an interview with CNBC's Squawk Box, El-Erian said that there was a lot of value to be found if this selloff continues.
Stunning: New innovation will be like "adding twin turbos to the Bitcoin engine" - and could send its price to $100,000. Learn More...
- More than 1,000 cryptocurrencies are "dead projects," according to data collected by Coinopsy and Dead Coins. The two digital-currency trackers said that these projects lack any development or future activity in their protocol. The story gets even more compelling because some of these projects that successfully raised capital were obviously never going to get off the ground. Such "dead coins" include Snowballs, OreoCoin, and CryptoMeth.
The Shocking Reason Why We Think Bitcoin Could Hit $100,000 (and How You Could Make Millions)
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Money Morning Defense and Tech Specialist and cryptocurrency legend Michael Robinson just revealed the little-known details regarding the future of Bitcoin... and why at any moment, it could be poised for a record-breaking rebound far beyond anything we've witnessed already.
Michael made a prediction about Bitcoin way back in 2013 - and folks who followed his advice stood to become 253 times richer. We'd venture to say not one in 10,000 people are aware of the massive profit potential unfolding right now.