Bitcoin climbs for second day to near week high

Bitcoin rose on Thursday for the second straight session to near a week high hit yesterday, as prices strive to recover from recent seven-week lows and hold above $6,000. 

Bitcoin rose $112, or 1.8% at Bitstamp to $6,385, with a session-high at $6,429, and a low at $6,208. 

Bitcoin climbed 1.3% on Wednesday, the first profit in three days, while marking a week high at $6,628 away from seven-week lows at $5,880 hit on Thursday. 

The world's biggest cryptocurrency lost 10.2% last week, the second weekly drop in a row, on concerns over US regulatory limitations. 

Market value of cryptocurrencies barely rose on Thursday to $208 billion, after hitting $190 billion on Tuesday, the lowest since November 2017. 

Even as the overall sentiment in the market remains decidedly negative, participants are still preferring Bitcoin over other cryptocurrencies, with its market share rising over 51%. 

When asked about the recent collapse in cryptocurrencies, Coinbase CEO Brian Armstrong commented in an interview with Bloomberg with: "This technology is going through a series of bubbles and corrections, and each time it does that, it’s at a new plateau."

He nonetheless believes the adoption rate of cryptocurrencies is growing steadily around the world, making an extraordinary claim that 50,000 new users join Coinbase everyday, which is one of the largest crypto trading platform in the world.