‘Look Out Below!’ Bitcoin Tanks…Below Key $30,000 Level

Bitcoin is under pressure again in early trading on Tuesday as the crypto currency traded below the key $30,000 level. The fear among some enthusiasts is that a move below 30k will trigger trading algorithms that could cause further losses.

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Environmental concerns tied to mining have become an important focus in recent weeks with both former enthusiast Elon Musk no longer allowing payment for Tesla vehicles with bitcoin and Elizabeth Warren slamming the currency.

In addition, China has put in place a series of restrictions on mining. Theoretically, that should cause the value of bitcoin to move higher. However, much of its future depends on the willingness of people to invest in and trade it. The belief that it could be “cut off” by regulators overseas or at home is of concern to investors.

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