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Bitcoins ascent to its latest summit came with big swings that continue to stoke controversy about its outlook.

By Eric Lam Bitcoin steadied Tuesday after flirting with a bear market in a plunge that left investors grasping for clues about what lies ahead for the world’s largest cryptocurrency. The digital coin rose as much as 8% to about $36,600, but the move higher pales compared to the gyrations that took Bitcoin to an all-time high of nearly $42,000 on Jan. 8 before a precipitous slump over Sunday and Monday. The latest bout of roller-coaster volatility recalls past boom and bust cycles including t...