Bitcoin is heading for the worst weekly loss in a month – the economic – the global economy

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Bitcoin fluctuated on Friday, heading towards its worst weekly decline since September, as concerns about regulation and its overheating led to its retreat from recent record highs.

The most popular cryptocurrency in the world fell by more than five percent to its lowest level in nearly three weeks at 28,800 dollars in early trade in Asia, before stabilizing near 32 thousand. The currency has lost 11 percent since the start of the week, the biggest decline since it slumped 12 percent in September.

Traders say a report published by BitMix Research on Twitter indicates that a portion of Bitcoin may have been spent twice was enough to trigger a sale, even if those concerns were calmed down later.

Bitcoin is trading more than 20 percent lower than its record high of $ 42,000 reached two weeks ago, incurring losses as concerns grow that it is one of several price bubbles and as cryptocurrencies are gaining attention from regulators.

The second largest cryptocurrency, Ethereum, initially fell to its lowest level in a week on Friday, before rising 6 percent in the late Asian session to $ 1,177.

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