The Chinese government is conducting an active campaign to curb the bitcoin mining industry. This Tuesday, the cryptocurrency leader plunged below 30,000 dollars for the first time

Suffering from Chinese efforts to regulate this decentralized market, the price of bitcoin fell below 30,000 dollars for the first time since the end of January. Around 12:50 GMT (14:50 in Paris), bitcoin was trading for 29,590 dollars (-9.25%), moments after touching its lowest in five months at 29,334 dollars. The highly volatile cryptocurrency remains up 2.2% since the beginning of the year but plunged 54% compared to its all-time high, reached in mid-April at 64,870

ThinkMarkets analyst Fawad Razaqzada believes that concerns about the Chinese government's tightening and the fear that the acceptance of bitcoin and other cryptocurrencies will be delayed by their environmental impact are weighing on the market. The Chinese government is waging an active campaign to curb the bitcoin mining industry, as this market calls the computers that operate decentralized cryptocurrency by validating transactions and