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Bitcoin struggles for footing on worries over China, leverage

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Reuters

By Stanley White TOKYO (Reuters) – Bitcoin and other digital assets languished in Asia on Thursday, recovering marginally from four-month lows but 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 slightly to $38,072 after plunging 14% on Wednesday to its lowest since late January. Smaller rival ether fell more than 3% on Thursday to $2,368, extending a 28% tumble on Wednesday. Wednesday’s declines in both digital assets were their biggest daily percentage…

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