Bitcoin is crashing hard, reaching historic lows of well below the $70,000 mark. It’s a massive wipeout as investors continue to sell off their reserves, with some comparing it to the time China banned crypto mining in 2021. (Gold prices have since lurched down, but stabilized around a considerably higher price than before the rally.) Instead of mining crypto, companies are starting to pivot, according to Bloomberg, allocating their hardware to powering AI models instead of mining crypto. More on Bitcoin: The Streets Are Saying Bitcoin Is Gonna Fall to $30,000