Bitcoin fell below $30,000 for the first time since June 22, according to the trading data.

Bitcoin fell in price by more than 6 percent – to 29,687 (as of 09:13 Moscow time). The fall of the most popular cryptocurrency happened after a big sale in global stock markets, as well as against the background of news from China. The People’s Bank of the PRC ordered the country’s large financial institutions to stop carrying out operations with cryptocurrency.

Earlier, co-founder of hedge fund Morand-Tice Capital Management, David Tice, warned investors around the world against investing in stocks and bitcoins. According to Tice, these types of assets are currently highly overvalued, which in the near future may turn into a “collapse” of the “bubble”, as a result of which prices will fall sharply.