Start the conversation
Comment on This Story
Or to contact Money Morning Customer Service, click here.
Litecoin prices surged past $70, and the global cryptocurrency market climbed past $172.1 billion. In the last two months, that figure is up roughly 100% as more and more capital continues to pour into the industry.
The Rise coin was the top performer of the last 24 hours. The cryptocurrency surged more than 132%. Other top performers included Groestlcoin (up 52.6%), Okcash (up 40.32%), Nav Coin (up 39.06%), and Pinkcoin (up 36.77%).
Today's top decliner was Reecoin. The cryptocurrency plunged more than 61% in value over the last 24 hours. Other coins to take a big hit today include USD-e (down 31.9%), Monaco (down 24.89%), Blakecoin (off 18.68%), and Unity Ingot (off 16%).
Below is a recap of the top cryptocurrency prices at 3:30 p.m. EDT.
Bitcoin: $4,730.98, +3.80%
Ethereum: $383.15, +0.47%
Litecoin: $70.42, +13.48%
Ripple: $0.2439, +8.02%
Bitcoin Cash: $587.41, +5.02%
Now that we know all of today's price movements, here's what has been moving these cryptocurrencies…
Bitcoin Prices Today: Bitcoin Hits All-Time High
The price of Bitcoin hit a new all-time high Thursday thanks to increased capital flows into initial coin offerings (ICOs) and optimism following a huge recommendation on Wall Street.
Markets were still cheering analyst Ronnie Moas, who projected that Bitcoin could surge between $15,000 and $20,000 within the next three years.
Top 5 Cryptocurrencies to Invest in Today
Moas has a mid-2018 price target for Bitcoin at $7,500. Moas argues that digital currencies will become an important hedge in investor portfolios in the years ahead.
Ethereum Prices Pushing Toward $400
The Ethereum price was rising again to record territory and flirting with the potential of $400 per unit in the near future.
ICOs have played a large role in Ethereum's recent rise since the concerns about the health of the industry back in late August. The price of Ethereum is up more than 100% in the last five weeks.
Today, a lot of optimism came from the popular messaging application "Kik," as it announced a successful $50 million presale of its token ahead of a September ICO.
Trending: Why the Winklevoss Bitcoin ETF Suddenly Is Looking Better to the SEC
Many markets are also anticipating that ride-sharing giant Uber may also explore its own cryptocurrency in the wake of its hiring Bitcoin-friendly CEO Dave Khosrowshahi.
Litecoin Prices Hit All-Time High
Litecoin hit an all-time high Thursday as the coin continues its incredible run.
One research analyst called for Litecoin to reach $200 by the end of the year.
NEO Prices Remain Volatile
NEO looked to be making a comeback after nearly a week of sharp downturns. The price recently topped $50.00 per coin, but it has since declined to around the $33.00 range.
Advocates have claimed that NEO is the "Ethereum of China."
However, implementation of such a lofty goal has gotten harder, as the Chinese government appears to be showing a great deal of hesitance to embrace the cryptocurrency markets.
Must Read: This Bitcoin Price Prediction Says $55,000 Possible in 5 Years
Follow Money Morning on Twitter, Facebook, and LinkedIn.
About the Author
Garrett Baldwin is a globally recognized research economist, financial writer, and consultant with degrees from Northwestern, Johns Hopkins, Purdue, and Indiana University. He is a seasoned financial and political risk analyst, with a focus on stocks, hedge funds, private equity, blockchain, and housing policy. He has conducted risk assessment projects for clients in 27 countries, and consulted on policy and financial operations for some of the nation's largest financial institutions, including a $1.5 trillion credit fund, a $43 billion credit and auto loan giant, as well as two of the largest Wall Street banks by assets under management.
Garrett joined Money Map Press as an economist and researcher in 2011, specializing in alternative strategies with an emphasis on fundamental and technical analysis.
Leave a Reply