Bitcoin loses ground on concerns over regulations in China Bitcoin, the biggest and most popular cryptocurrency, rose 8.75 per cent to touch $40,000, after plunging 14 per cent on Wednesday to its lowest since late January Reuters | May 20, 2021 | Updated 14:24 IST Bitcoin regained some ground on Thursday from the previous session's brutal slide to four-month lows but was weighed down by concerns over tighter regulation in China and unease over the extent of leveraged positions in the cryptocurrency world. Bitcoin, the biggest and most popular cryptocurrency, rose 8.75 per cent to touch $40,000, after plunging 14 per cent on Wednesday to its lowest since late January. Smaller rival ether was up 6.6 per cent at $2,600 at 0630 GMT, but in extremely volatile trading after its 28 per cent tumble on Wednesday. Wednesday's declines in both digital assets were their biggest daily percentage moves in more than a year as investors rushed to exit trades that until recently were heartily outperforming traditional markets such as stocks and bonds.