Bitcoin drops under $30,000 for first time in five months

LONDON — Bitcoin fell below $30,000 on Tuesday for the first time in five months, hit by concerns over China’s ongoing crackdown on the world’s most popular cryptocurrency.

At about 1230 GMT, bitcoin sank nine percent to as low as $29,624, attaining a level last seen in January, with analysts citing Chinese efforts to crack down on trading and mining operations.