 "Bitcoin regains some lost ground")
After reaching $4,960 a fortnight ago, the bitcoin’s price nosedived to the $3,000 level last Friday when one Chinese bitcoin exchange said it was closing its operations. The move followed the Chinese authorities’ decision to ban initial coin offerings, something like initial public offerings (IPOs) for shares.
However, on Tuesday, the bitcoin was back above $4,000. In India, the world’s first and most popular virtual currency, which fell from a high of Rs 354,000 to Rs 212,000 on Friday, jumped to Rs 280,000. Explaining the roller-coaster ride, Sandeep Goenka, founder, Zebpay, India’s largest bitcoin exchange, said, “It shows how resilient bitcoin
