Bitcoin Rallies After Dropping Below $30,000 on China Cryptocurrency Crackdown

Bitcoin recovered from a five-month low on Tuesday in volatile session in which it fell below $30,000 (roughly Rs. 22.28 lakhs), extending losses sparked a day earlier when Chinaࢀ™s central bank deepened a crackdown on cryptocurrencies. But its outlook remained tilted to the downside, analysts said. The worldࢀ™s largest cryptocurrency dropped to $28,600 (roughly Rs. 21 lakhs), its lowest since early January. It was last up 3.7 percent at $32,802 (roughly Rs. 24.3 lakhs), and remains about 13 percent higher so far this year. Cryptocurrency Trading Faces Strict Crackdown in China Bitcoinࢀ™s earlier fall also pressured smaller coins such as…