Bitcoin Watch – Bitcoin continues to climb but many remain sceptical

Bitcoin value continues to increase this week, currently valued at USD7,489 (a more than 15% increase in the last week alone). Despite the increase, US Federal Reserve chairman Jarome Powell has raised concerns about cryptocurrencies, saying they present serious risks to investors. Mr Powell told members of Congress that “relatively unsophisticated investors see the asset go up in price, and they think: ‘This is great; I’ll buy this.’ In fact, there is no promise of that.” The speech also included a controversial proclamation that cryptocurrencies “are not real currencies because they have no intrinsic value.”

Stay updated here with how the cryptocurrency is tracking: