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Bitcoin Rebounds, Still Heads for Weekly Slump as Scrutiny Rises

  • Actions in South Korea, U.S. signal greater regulatory concern
  • Price of biggest token still down from when futures debuted
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Bloomberg’s Camila Russo reports on China’s decision to order bitcoin mining facilities to close.(Source: Bloomberg)
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Bitcoin advanced on Friday for the first time this week as regulators around the world increased their scrutiny of the largest cryptocurrency, with concerns ranging from investor losses to strains on power systems.

The digital asset rose 3.6 percent to $13,941 as of 10:54 a.m. London time, reversing an earlier decline. At one point in the week it was down as much as 24 percent, on track for the deepest decrease since January 2015 and falling with many of the largest cryptocurrencies, according to Bloomberg composite pricing. The token peaked in mid-December soon after the introduction of futures trading on regulated exchanges in Chicago.