Bitcoin rises for first time in 4 days off two-week low

Bitcoin rose on Wednesday for the first time in four sessions, holding above two-week lows with limited gains amid constant worries about regulatory pressures and hacking concerns. 

At Bitstamp, Bitcoin rose $66, or 1.1% to $6,370 from the opening of $6,304, with an intraday high at $6,400, and a low at $6,285. 

Bitcoin slid 5.4% on Tuesday, the third consecutive daily loss and the largest since June 22, marking two-week lows at $6,270 as selling pressures mount again on crypto assets. 

Another Hack 

The Bancor exchange announced a security breach that led to a $12 million loss worth of ethereum coins, however the platform assured its clients that their accounts were safe from the hack. 

Market value of cryptocurrencies rose a billion dollars to $255 billion, after marking $249 billion earlier in the session, the lowest since June 30. 

Researchers at the Imperial College London believe that within a decade, cryptocurrencies could become a mainstream way of paying for services and commodities. 

Otherwise, the European Commission announced plans to set up more stringent regulations to ensure transparency in crypto exchanges, in order to combat money laundering and terrorism funding.