Bitcoin widens gains to near six-week high

Bitcoin rose modestly on Thursday on track for the sixth daily profit in a row, settling firmly above $7,000 and nearing six-week highs hit yesterday, as investors buy up cheap crypto assets after a spate of positive news for the market. 

At Bitstamp and as of 09:40 GMT, Bitcoin rose $16, or 0.2% to $7,400 from the opening of $7,310, with an intraday high at $7,420, and a low at $7,278. 

Bitcoin rose one percent on Wednesday, the fifth profit in a row, marking the longest such streak since December 2017, and hitting six-week highs at $7,600. 

Market value of cryptocurrencies rose $3 billion on Thursday to $290 billion, after touching $300 billion yesterday, the highest since June 12. 

A string of positive news for the market buoyed risk appetite and added over $50 billion of market value to cryptocurrencies this week alone. 

BlackRock to Trade Crypto? 

BlackRock, the world's biggest assets manager, is reportedly looking into investment options in cryptocurrencies and blockchain technologies. 

Financial News reported that BlackRock formed a team from various units at the company to look into cryptocurrencies, with an eye on investing in Bitcoin futures in particular. 

South Korea Opens Up  

South Korean government announced plans to give more tax benefits to start-up companies that focus on new technologies, including blockchain. 

Regulators are also putting up new guidelines for classifying the blockchain industry, expected to be revealed by the end of the month.