According to data provided by this media, the last time Bitcoin had traded, albeit briefly, below US$30 thousand was on January 4 of this year, when it took a break and reached US$28,722, although that same day it closed at US$31,971 thousand per unit.

The cryptocurrency fell more than 20% in just 6 days and has already returned more than half - 54% - of its historical record set on april 14, when it reached US$ 65,000 per unit.

Bitcoin's fall suffers from news of greater controls and limits by China on cryptocurrency mining in that country. Chinese miners are some of the most numerous in the cryptocurrency system and, without their processing input, the network suffers.

The drop comes a day after the People's Bank of China ordered the country's major financial institutions to stop facilitating cryptocurrency transactions and signals the end of a four-week consolidation between US$30k and US$40k.

Bitcoin's price had given a negative signal to investors. The 50-day moving average of the cryptocurrency price had fallen below the 200-day moving average. In technical analysis, one of the most popular strategies used for investing, such a crossing of lines between moving averages of different timeframes is known as a "death cross" and is often considered an indicator of new lows to come.