Bitcoin dips for second day on weak crypto demand

Bitcoin fell on Tuesday for the second straight session on weak cryptocurrency demand amid a lack of incentives to buy and persistent concerns about global regulations and government crackdown. 

At Bitstamp, bitcoin fell $103, or 1.2% to $8,300 from the opening of $8,403, with an intraday high at $8,417, and a low at $8,252. 

Bitcoin lost 1.4% on Monday, the second loss in three days on low demand. 

Bitcoin shed 2.1% last week, the second loss in a row amid a renewed regulatory push by Japanese and South Korean authorities to investigate cryptocurrency exchanges, and after Microsoft banned all crypto ads from the search engine Bing. 

Market value of cryptocurrencies fell $6 billion on Tuesday to a total of $375 billion, with the total value still capped below $400 billion. 

In India, the supreme court decided to throw out all complaints against the latest crackdown by India's central bank on banks that provide cryptocurrency-related accounts. 

In Canada, financial authorities in Ontario issued a warning against five unlicensed companies that promote cryptocurrency trading and investment, with the Ontario Securities Commission (OSC) gathering information on the exchanges after receiving several complaints.