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Bitcoin

Bitcoin, cryptocurrencies rebound amid volatile week of trading

Brett Molina
USA TODAY

The prices of Bitcoin and Ethereum rebounded after a roller-coaster week for cryptocurrencies.

As of Thursday morning, the prices of the most popular cryptocurrencies were up slightly over the past hour, according to crypto market data site CoinGecko.

Bitcoin and Ethereum endured a brutal stretch when prices of the digital coins plunged. Over the past seven days, Bitcoin and Ethereum plunged 16.1% and 26% respectively, CoinGecko says. 

Wednesday, a statement posted on the Chinese Banking Association's website said financial institutions should “resolutely refrain" from providing services using digital currencies because of their volatility.

Bitcoin had a turbulent week.

Last week, Tesla CEO Elon Musk said his company would stop accepting Bitcoin over concerns with the currency's environmental impact.

"We are concerned about rapidly increasing use of fossil fuels for Bitcoin mining and transactions, especially coal, which has the worst emissions of any fuel,” Musk said on Twitter.

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Contributing: The Associated Press

Follow Brett Molina on Twitter: @brettmolina23.

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