Bitcoin on track for second weekly loss in row

Bitcoin lost ground on Friday, resuming the losses after a hiatus yesterday on short-covering from four-week lows, with the world's biggest cryptocurrency heading for the second weekly loss in a row on concerns over US regulatory curbs. 

Bitcoin fell $120, or 1.8% to $6,425 at Bitstamp, with a session-high at $6,584, and a low at $6,381. 

Bitcoin rose 4.2% on Thursday, the first profit in four-days away from four-week lows at $6,121 hit on Wednesday. 

Market value of cryptocurrencies fell $6 billion on Friday to $226 billion, after marking $219 billion on Wednesday, the lowest since November 17, 2017. 

Bitcoin is down 8.6% so far this week, heading for the second weekly loss in a row after a new wave of selling orders inundated the crypto markets on US regulatory worries. 

SEC Delays Bitcoin ETF Decision 

The U.S. Securities and Exchange Commission (SEC) has delayed its final decision on requests to set up bitcoin exchange-traded funds to late September, in another development that upset crypto enthusiasts in the States. 

The SEC stated: "The Commission finds it appropriate to designate a longer period within which to issue an order approving or disapproving the proposed rule change so that it has sufficient time to consider this proposed rule change. Accordingly, the Commission, ... designates September 21, 2018, as the date by which the Commission shall either approve or disapprove the proposed rule change."