BTC Drops Below $30,000

BTC Drops Below $30,000

For the very first time since January 2021, Bitcoin dropped below $30,000. On June 22, the cryptocurrency recorded a price of $28,893. Note that according to historical data on Coinmarketcap, the last time Bitcoin recorded a price below $30,000 was on January 27, 2021.

Bitcoin Price

Recently, the digital currency market has been experiencing what seems to be an equal measure of positive and negative news. This equally explains why Bitcoin has not recovered the $50,000 price point. For instance, MicroStrategy bought an additional 10,005 BTC bringing its total holdings to 105,085 BTC. Also, China intensified its crackdown on bitcoin mining around the same time.

In addition, Tesla said that it will resume accepting Bitcoin as payment when mining attains 50% clean energy. Despite the fact that this is good news, it was not enough to get the BTC price back to $50,000 probably due to the fact that the real effect of the announcement could only be felt once miners achieve this goal.

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