The price of bitcoin has dropped below $30,000, wiping out almost all of its gains for the year, with a sweeping regulatory crackdown putting the world’s leading digital asset under persistent pressure.
Bitcoin fell as much as 8 per cent on Tuesday to $29,872 in the latest leg of a sell-off that has pulled the cryptocurrency down more than 50 per cent from its April peak of almost $65,000.
The drop in bitcoin has cascaded across many other parts of the digital asset market, knocking “alt-coins” such as ether and dogecoin.
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