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Another bitcoin bubble may have burst in China

Virtual currency crashes under greater scrutiny by central bank

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An attendant holds a bitcoin sign during the opening of Hong Kong's first bitcoin retail store in February 2014. Bitcoin lost roughly half its value after hitting a record high in yuan terms in the space of one week.   © Reuters

HONG KONG/BEIJING -- Bitcoin has experienced another epic rise and fall in China, home to most of the trading in the virtual currency, with actions by the authorities hastening the sell-off just as they did in 2013.

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