Bitcoin climbs for third straight session as $6,400 gives in

2018-09-14 09:42:12 GMT (
Bitcoin climbs for third straight session as $6,400 gives in

Bitcoin rose on Friday for the third straight session to week highs, after managing to pierce $6,400 and sustain a recovery effort from recent three-week lows, with prices heading for weekly profits as well. 


At Bitstamp, Bitcoin rose $98, or 1.5% to $6,580, with an intraday high at $6,587, and a low at $6,451. 


Bitcoin rose 2.5% on Thursday, the second profit in a row away from three-week lows at $6,094. 


Market value of cryptocurrencies rose $5 billion on Friday to $204 billion away from $186 billion plumbed on Wednesday, the lowest since November 2017. 


And as more secondary cryptocurrencies take the lead, Bitcoin's market share receded from multi-month highs at 58% to 55.6%. 


Bitcoin is also up 5.5% so far this week, heading for weekly gains as a recent selloff wave takes a hiatus.


Otherwise, New York regulators approved of the Winklevoss Twins' cryptocurrency, the stablecoin Gemini dollar. 


The new cryptocurrency is backed by the dollar, with investment bank State Street taking custody of the fiat dollars they're held to. 


From Japan, Houbi acquired a majority stake in the BitTrade platform, one of the few licensed by the Financial Services Agency (FSA).  


Houbi, the world's third largest crypto exchange, continues its plan of expanding its trading base to gain more global recognition. 


Back to the US, the Washington Post reported that a group of crypto and blockchain companies banded to form a US-based lobby group for the industry in Washington. 


Otherwise, both the US Securities and Exchange Commission (SEC) and Financial Industry Regulatory Authority (FINRA) cracked down on several scams in the crypto business, such as a hedge fund under the name Crypto Asset Management for selling securities under the false assumption of approval by the SEC. 

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