Just a day after Ethereum dropped below $2,000, the number one cryptocurrency has crashed below $30,000. Bitcoin is currently trading hands at $29,678, according to Nomics.
Though the reasons are myriad, a key factor behind the latest drop has undoubtedly been renewed pressure from China. Yesterday, the central bank told five of the country’s largest banks as well as payments platform Alipay to stop participating in any crypto-related business.
The order is specifically focused on limiting citizens from trading cryptocurrencies by blocking them from adding funds to exchange platforms and over-the-counter (OTC) desks.
Bitcoin mining has also been halted in various provinces throughout China. So far, Inner Mongolia, Xinjiang, Qinghai, Yunnan, and Sichuan have all issued orders to halt mining. The bans appear to be the symptom of a broader announcement from authorities, reminding citizens that cryptocurrency is still banned in the country.
Market observers have also painted a bear
Źródło: https://decrypt.co/74176/bitcoin-falls-below-30000-first-time-since-january
