Bitcoin drops below $30,000 as head-turning rally stalls

The world’s largest cryptocurrency dropped as low as $29,327 as of 8:29 a.m. in Hong Kong on Friday, after a slide of almost 11% a day earlier.

BITCOIN fell below $30,000 as it continues to retreat from the record highs reached during a furious rally over the past two months.

The world’s largest cryptocurrency dropped as low as $29,327 as of 8:29 a.m. in Hong Kong on Friday, after a slide of almost 11% a day earlier. Commentators have cautioned that a sustained drop below $30,000 could presage further losses in the wake of last year’s 300% surge.