Cryptocurrency

Bitcoin on track for third weekly loss in row

2019-02-08 13:52:40 GMT (Economies.com)

Bitcoin inched down on Friday on track for the third loss in a row amid persistently weak trading, while also heading for the third weekly loss in a row. 

 

At Bitstamp, Bitcoin slipped $10, or 0.3% to $3,348, with an intraday high at $3,367, and a low at $3,337. 

 

Bitcoin slipped 0.2% on Thursday, the second loss in a row, marking week lows at $3,328. 

 

Market value of cryptocurrencies slipped a billion dollars on Friday to $111 billion, the lowest since December 17. 

 

Bitcoin is down 2% for the week on track for the thrd weekly loss, while almost touching six-week lows at $3,322. 

 

South Korean authorities announced that a ban on Initial Coin Offerings will continue, reiterating the decision made in 2017. 

 

In positive news, the CBOE exchange in Chicago reapplied its files for the Securities and Exchange Committee (SEC) to list Bitcoin exchange-traded funds. 

 

The exchange withdrew the application on January 23 due to the US government shutdown and its impact on work at the SEC. 

 

Digital Galaxy founder Mike Novogratz said that despite his belief the crypto market won't head north for some months, he's still confident it will all end up for the better. 

 

Galaxy Digital managed to gather over $250 million to give as loans for crypto startup companies. 

 

Otherwise, the Securities and Exchange Committee (SEC) in the US announced its search for sources for blockchain data in order to analyze them. 

 

The SEC is looking for companies capable of providing data on blockchain to support regulation and monitoring of risks. 

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