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Forex

Bitcoin battered by fear of tighter controls in China

HONG KONG -- The price of bitcoin tumbled on Friday morning, as speculation that China may tighten controls over the cryptocurrency to stem the outflow of capital spooked investors.

The value of the currency fell to 4,520 yuan at BTCC, a bitcoin exchange in China. That was 12% lower than a recent high of 5,136 yuan on Thursday afternoon.

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