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John Authers

Bitcoin's Super-Swift Rebound May Have Been Made in China

The most convincing explanation for the cryptocurrency’s record-testing rally may be its resilience in the face of a clampdown by Beijing.

Shining again.

Shining again.

Photographer: Dan Kitwood/Getty Images

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Bitcoin, the biggest of the cryptocurrencies, nearly set a new all-time high this weekend. That wouldn’t be so surprising, given the way that the price has shot ever closer to the moon over the last decade. But the speed with which the digital currency has rebounded from its latest selloff suggests that something is changing.