Bitcoin, following the concerns of China’s ongoing crackdown, fell below $30,000 for the first time in five months. The unit later stood at $29,590, down 9.25% in value. Bitcoin has also faced criticism over environmental concerns as its mining requires fossil fuels. Nearly 80% of trade in cryptocurrency is powered by Chinese mines, but in recent months several mines have been shut down as Beijing is being alerted of the industry. Last week 26 mines were closed down.