Bitcoin slides below $30,000 on China crackdown fears

Bitcoin slides below $30,000 on China crackdown fears

Bitcoin has dipped below $30,000 for the first time since late January as China's latest crackdown on cryptocurrencies takes its toll.

A fall of more than 7% took the token's value to just above $29,000 in Tuesday trading, adding to a fall of 10% seen a day earlier.

Losses of nearly 30% in the last week alone have almost wiped out gains for the year to date.