For the first time since January of this year, the value of bitcoin fell below $30,000. As of 16:10 Moscow time, the cryptocurrency fell to $29.7 thousand, at a minimum it dropped to $29.3 thousand, according to trade data.

The reason for such a speed of change was the negative news from China. On June 21, the People’s Bank of China ordered Chinese organizations, including the largest banks and the Alipay payment system, not to participate in transactions with cryptocurrency.

Additionally, after the gradual introduction of a ban on the mining of cryptocurrencies, miners began to leave the country. Regulation acts already in four provinces, including Sichuan, which was considered as a major mining center.