Bitcoin goes green on day in major reversal

Plunging below $29K earlier in the session, bitcoin (BTC-USD) has bounced back above $32.4K and is now modestly positive for the day. Pretty much the entirely of the rest of the cryptocurrency market remains in the red, but well off session lows. Ether (ETH-USD) is now off just 0.25%. Even with the big reversal, bitcoin is down nearly 25% from week-ago levels, and of course down more than 50% from its all-time high of about $65K.As reported earlier, Beijing really seems to mean it this time with its crackdown on Bitcoin. "Miners are leaving China for good," writes Nic Carter in a piece for Coindesk. "All signals seem to be indicating the greatest shakeup in the geographic makeup of bitcoin mining since the start of the industrial mining era."In the short-term, writes Carter, there are many questions to be answered, but long-term, this is a good thing. "Whether it’s the U.S.