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The price of Bitcoin surpassed $11,000 just 24 hours after hitting the $10,000 threshold. Despite warnings about bubbles, crashes, and panics, investors around the globe continue to pour money into the market.
In response to Bitcoin prices nearing his $14,000 price target, Standpoint Research founder Ronnie Moas raised the price of his Bitcoin forecast to $20,000, according to Benzinga.com.
Because of the skyrocketing prices of Bitcoin, Moas has adjusted his price forecasts three times in November.
Below is a recap of the top cryptocurrency prices at 11:30 a.m. EST:
- Bitcoin: $11,102.20, +10.61%
- Ethereum: $495.20, +4.57%
- Bitcoin Cash: $1,609.31, +2.47%
- Ripple: $0.278, -0.83%
- Dash: $753.16, +20.88%
- Bitcoin Gold: $345.93, +3.15%
- Litecoin: $101.14, +8.73%
Now that we know all of today's price movements, here's what has been moving these cryptocurrencies…
Cryptocurrency Markets Today
On Wednesday, the market capitalization of the global cryptocurrency sector topped $333.6 billion.
Bitcoin's market capitalization comprised 55.6% of the total crypto market capitalization.
Top performers from the largest 50 cryptocurrencies by market capitalization included Status (up 56.28%), Cardano (up 36.64%), Stellar Lumens (up 19.24%), Decred (up 18.80%), Dogecoin (up 18.47%), IOTA (up 13.95%), and Ardor (up 10.51%).
The worst performers from the top 50 largest cryptocurrencies by market capitalization included Golem (down 12.73%), DigixDAO (down 8.77%), Ethereum Classic (down 8.70%), Power Ledger (down 8.22%), MonaCoin (down 7.43%), and Factom (down 6.97%).
Bitcoin Rallies Past $11,000
"Bitcoin Mania" continued to accelerate Tuesday with the price jumping another 10.61%. That surge pushed the price above $11,101 as the Bitcoin market capitalization hit $185 billion.
The cryptocurrency is now worth more than Toyota Motor Corp. (NYSE ADR: TM). There are now 30 publicly traded companies left on U.S. exchanges that are worth more than Bitcoin, according to data collected by DogsoftheDow.com.
Ethereum Nears $500
The breakout for Ethereum follows recent predictions by billionaire investor Mike Novogratz. He set a $500 price target for the world's second-largest cryptocurrency earlier this month.
Ethereum has now risen by more than 7,000% over the last 12 months.
Altcoins Rally Again
Dash rallied more than 20% over the last 24 hours and pushed into the top five cryptocurrencies by market capitalization.
But Litecoin won't be outdone by its rivals. The seventh-largest cryptocurrency by market capitalization topped $100 for the first time.
Altcoins have garnered a lot of interest from investors not willing to dip a toe into the lofty valuation of Bitcoin.
Up Next: Never Miss a Cryptocurrency Opportunity Again
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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.