Markets Update: Cryptocurrency Prices at the Crossroads

Cryptocurrency prices have once again dipped some more as most digital assets are seeing 24-hour losses of around 2-10 percent today. Bitcoin Core (BTC) markets have dipped below the $6K region to a low of $5,774 per coin but have since rebounded a hair to $5,907. Bitcoin Cash (BCH) markets dropped to a low of $630 per coin but are now averaging $661 per BCH on June 29, 2018.

Also read: Japanese Economist Explains Why Another Bitcoin Price Surge Is Unlikely

Cryptocurrency Markets Drop a Hair Lower Digital currency markets are at a turning point today as most cryptocurrencies have lost quite a bit of value erasing nearly all the gains achieved since last October 2017. Since Bitcoin Core’s (BTC) all-time high (ATH) at $19,600, the cryptocurrency has lost 70 percent of its value. The entire cryptocurrency capitalization of all 1600+ coins is $234Bn as it has lost nearly ⅔ of value since December 2017. Today, on June 29, there’s been an 11.7Bn worth of digital currencies traded as trade volumes continue to grow weaker. On the other hand, there’s been a lot of development taking place behind the scenes, and big crypto-focused firms like Coinbase, Blockchain, Circle, and others are now enticing institutional investors from venture capital firms.