BITCOIN RECOVERS SOME MARKET SHARE
Bitcoin has regained some ground after crashing to four-month lows but was weighed down by concerns over tighter regulation in China and unease over the extent of leveraged positions in the cryptocurrency world.
Bitcoin, the biggest and most popular cryptocurrency , rose 8.75% to touch $40,000, after plunging 14% on Wednesday to its lowest since late January.
Smaller rival ether was up 6.6% at $2,600 at 06:30am (GMT), but in extremely volatile trading after its 28% tumble on Wednesday.
Wednesday’s declines in both digital assets were their biggest daily percentage moves in more than a year as investors rushed to exit trades that until recently were heartily outperforming traditional markets such as stocks and bonds.
The latest catalyst was a statement by Chinese financial industry groups on Tuesday banning institutions from offering cryptocurrency registration, trading, clearing, and settlement.
