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Bitcoin rises 10 per cent after last week’s brutal selloff

Bitcoin rises 10 per cent after last week’s brutal selloff on Tuesday, rising 10 per cent to be up more than a third from last week’s lows below $12,000.

Bitcoin, the world’s biggest and best-known cryptocurrency, fell nearly 30 per cent at one stage on Friday. To $11,159.93 BTC=BTSP and, despite a late recovery. Had its worst week since 2013. At 0445 GMT. It was quoted around $15,049 on the Luxembourg-based Bitstamp exchange.

Bitcoin hits new record

Best-known cryptocurrency

The biggest and best-known cryptocurrency has risen around twentyfold since the start of the year. Climbing from less than $1,000 to as high as $19,666 on December 17 on Bitstamp and to over $20,000 on other exchanges.

While bitcoin investors and analysts believe the decline in its value was a natural correction after a heady run-up in prices, there have been further warnings from market regulators and central banks.

 

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