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Litecoin prices today climbed to $215 per coin and remained in the top five cryptocurrencies by market capitalization.
Litecoin prices are surging on news that LitePay will launch later this month, and some crypto investors may be adding more LTC ahead of the Litecoin Cash hard fork.
In other cryptocurrency news today, the price of Bitcoin climbed more than 8% and pressed above $10,000 for the first time in weeks. The uptick came after Fundstrat Global Advisors Tom Lee predicted that Bitcoin could hit $20,000 by midyear.
Lee also projects that Bitcoin will hit $25,000 by the end of the year.
Markets have largely recovered from concerns about South Korean efforts to regulate the sector. Traders no longer anticipate that the South Korean financial ministry will aim to ban cryptocurrency trading.
Below is a recap of the top cryptocurrency prices at 4:00 p.m. EST.
- Bitcoin: $10,081.30 +8.43%
- Ethereum: $928.48, +2.11%
- Ripple: $1.14, +2.82%
- Bitcoin Cash: $1,374.71, +2.95%
- Litecoin: $215.50, +3.88%
Now that we know all of today's price movements, here's what has been moving these cryptocurrencies…
Cryptocurrency News Today
On Thursday, the market capitalization of the global cryptocurrency sector hit $474.5 billion.
Bitcoin represented 35.8% of the total cryptocurrency market, with a market capitalization of $170.0 billion.
The best performers from the top 50 largest cryptocurrencies by market capitalization included Waves (up 28.41%), VeChain (up 24.91%), Komodo (up 19.84%), Waltonchain (up 18.25%), Dogecoin (up 13.96%), Ark (up 12.12%), Lisk (up 11.24%), and Decred (up 10.74%).
The worst performers from the top 50 largest cryptocurrencies by market capitalization included Populous (down -6.86%), Nano (down -5.91%), RChain (down -5.69%), 0x (down -4.49%), Aeternity (down -2.11%), OmiseGO (down -1.40%), NEM (down -1.18%), and Kin (down -1.02%).
Bitcoin Bounces Back
The push back above $10,000 came despite news that Berkshire Hathaway Vice Chair Charles Munger called Bitcoin "totally asinine."
Munger told The Daily Journal that he "never considered for one second having anything to do with it. I detested it the moment it was raised. It's just disgusting. Bitcoin is noxious poison."
U.CASH Slumps Another 47% Thursday
The price of U.CASH fell another 47% after the great weekly pump ended in disaster for some investors.
U.CASH surged more than 100% in a day earlier this week thanks to a third-party pump.
But the price has now declined by more than 40% for three straight days.
U.CASH represents an important reminder to remain cautious about investing in a cryptocurrency that surges without a reasonable catalyst.
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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.