Investing.com – Bitcoin was modestly higher Thursday as traders continued to bet further upside beckoned for the crypto as inflows into the market held steady.
Bitcoin rose 1.04% to $7,432.9 on the Bitfinex exchange, after trading as highs as $7,515.0.
Bitcoin has held above $7,000 since its rally above this price level earlier in the week, which some crypto observers cited as a sign the popular crypto is eyeing a move higher.
The total market cap of cryptocurrencies fell to about $287 billion, at the time of writing, from about $288 billion Wednesday.
Bitcoin's foray higher comes a day after Fed chairman Jay Powell said "bitcoin is not really a currency," and warned it poses "significant" investor risks as it doesn’t have any intrinsic value.
Other large-cap cryptos failed to replicate bitcoin's modest move higher.
Ripple XRP fell 1.41% to $0.47730 on the Poloniex exchange, while Ethereum fell 1.58% to $467.56.
Bitcoin Cash fell 0.77% to $816.12, while Litecoin fell 2.00% to $86.24.