Bitcoin, the cryptocurrency, fell below $ 30,000 for the first time in five months on Tuesday on news of China’s crackdown on the cryptocurrency industry.
Bitcoin has fallen more than 9% to $ 29,624, the lowest level since January.
This decline has been fueled by news that China is stepping up measures against trading and acquiring the currency.
“There are growing concerns about China’s measures and that the adoption of Bitcoin and other cryptocurrencies could be delayed due to concerns about their environmental impact,” analysts said.
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