Bitcoin struggles for footing on worries over China, leverage

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By Stanley White and Vidya Ranganathan TOKYO (Reuters) – Bitcoin recovered marginally on Thursday from the previous session’s brutal slide to four-month lows but was weighed down by concerns over tighter regulation in China and unease over massive leveraged positions in the cryptocurrency world. Bitcoin, the biggest and most popular cryptocurrency , rose 8.75% to touch $40,000, albeit briefly, after plunging 14% on Wednesday to its lowest since late January. Smaller rival ether was up 3% at $2,517, but in extremely volatile trading after its 28% tumble on Wednesday. Wednesday’s decli…

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