Mohamed El-Erian, chief economic advisor at Allianz, said bitcoin would be a buy if the price falls below $5,000.
The cryptocurrency was trading around $5,850 Friday morning, representing about a 70 percent drop from the peak it reached in late 2017.
Bitcoin fell below $6,000 for the second time in a week Friday, June 29, the day CME Group’s Bitcoin futures end their last day of trading for the month.
