Here’s Why Bitcoin Just Dropped Below $30,000 For the First Time in Months

Bitcoin briefly turned positive after tumbling earlier below $30,000 and erasing gains for the year amid growing concern about a broad crypto crackdown from China.

The original cryptocurrency, which dropped below the key round-number level for the first time since January, has lost more than 50% from its mid-April high of almost $65,000. That compares with a gain of about 12% for the S&am…

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