--- title: "Bitcoin Crashes Below $30,000. Again." description: "Bitcoin has dipped below the $30,000 mark for a second time in months as Wall Street is starting to grow anxious of a resurgence of COVID-19 cases, putting a damper on the economic recovery, CNN reports. The cryptocurrency fall around six percent over the last 24 hours, alongside other alternative cryptos including Ethereum and Dogecoin. […]" date: "2021-07-20" modified: "2021-07-20" authors: - name: "Victor Tangermann" job_title: "Senior Editor" link: "https://futurism.com/authors/victor" url: "https://futurism.com/the-byte/bitcoin-crashes-below-30000-again" categories: - "Bitcoin" - "Blockchain" - "Cryptocurrency" - "Future Society" tags: - "bitcoin" - "cryptocurrencies" - "the digest" --- # Bitcoin Crashes Below $30,000. Again. ![Bitcoin has dipped below the $30,000 mark for a second time in months as Wall Street is starting to grow anxious of a resurgence of COVID-19 cases.]() *\Image: ONOV3056 via Flickr\* ## Bitcoin Dip Bitcoin has dipped below the $30,000 mark yet again, [*CNN* reports](), as investors grow anxious about a resurgence of COVID-19 cases putting a damper on the economic recovery. The cryptocurrency fall around six percent over the last 24 hours, alongside other cryptos including Ethereum and Dogecoin. It was following the same trend as the stock market, which also fell on Monday, with shares of cruise lines and airlines tanking. Bitcoin has had a [terrible year so far](), falling from record highs in the spring to less than 50 percent of its former highs — and in the process raising questions about its longterm viability. ## Big Drop This year's crash was in part caused by China [cracking down]() on the tech. Tesla CEO Elon Musk [has also played a role,]() with the car company first [accepting Bitocin]() as a form as payment — but [reversing the decision]() a few months later. In fact, as [*Fortune* points out](), Bitcoin's most recent drop in value is a bit of a landmark moment as Tesla made a massive $1.5 billion investment in Bitcoin early this year, buying an estimated 41,000 Bitcoins at around $32.600. Despite a [10 percent selloff in April](), Tesla's gains have now disappeared. All in all, it's not boding well for the future of the cryptocurrency. Will Bitcoin survive another round of COVID-19 cases unscathed? We'll have to wait and see. **READ MORE:** [Bitcoin falls below $30,000 as Delta variant fears spread globally]() \[*CNN*\] **More on Bitcoin:** *[Watch Police Crush 1,069 Bitcoin Mining Rigs With a Huge Steamroller]()* ## Author I've been at Futurism since 2017, where my role has evolved to encompass design, writing, and increasingly editing. I've always been fascinated by space exploration and advanced transportation, which I've leaned into by interviewing luminaries in those fields while closely following the dimensions of policy and regulation that allow next-generation projects to succeed -- or, sometimes, to fail. I'm also keenly interested in the effects of generative AI on society, policies, and democratic institutions, as well as clean energy, physics and biology, and the vagaries of tech leadership. My work for Futurism has been cited by publications including Ars Technica, Gizmodo, PC Magazine, Jalopnik, Fox News, and the New York Post. I spent my childhood living in locations including Manila, the Philippines, and Geneva, Switzerland, attended McGill University, and now live in Toronto, Canada. Before Futurism I worked at AskMen and a small photography studio. In my free time, I'm an avid gardener, foodie, and craft beer lover, as well as a maker of artisanal hot pepper sauces. I have a magnificent dog named Freida. ### Author social links [Bluesky]()