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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.
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