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We're keeping a look out for bold cryptocurrency price predictions, and we just found one for Litecoin prices: $1,500 by the end of 2018.
Tim Lea, CEO of REFFIND, said that Litecoin is a hidden gem.
"The LitePay product that is being produced has all the hallmarks of greatness. With a heavy emphasis on compliance, there is a great recognition within the team to hit the operational payments space very strongly and with the right compliance issues to deal with the regulatory structures that cryptocurrency so desperately needs," Lea told Finder.com.
From today's prices of $205.02, that's a potential profit of 631.63%.
In Bitcoin news, prices topped $11,000 as bullish investors shared their positive sentiment on the future of the cryptocurrency markets.
Former Legg Mason fund manager Bill Miller, who currently runs his own hedge fund, shared his outlook in an interview with CoinTelegraph.com.
"What I observed with Bitcoin is that it's following a very time-honored path of disruptive innovation going all the way back to the printing press, railroad, electricity, radio in the 1920s, biotech, the Internet," he said.
"Bubbles are necessary to bring capital into the market to see if these innovations are actually going to stand."
Below is a recap of the top cryptocurrency prices at 9:00 a.m. EST.
- Bitcoin: $11,004.40, +2.22%
- Ethereum: $864.84, -0.60%
- Ripple: $0.91, -2.40%
- Bitcoin Cash: $1,275.00, -0.05%
- Litecoin: $207.35, -1.32%
Now that we know all of today's price movements, here's what has been moving these cryptocurrencies…
Cryptocurrency News Today
On Friday, the market capitalization of the global cryptocurrency sector hit $462.66 billion. The top performer of the day was Nexus, which popped 45% on the day.
Meanwhile, Revain, which saw its value decline 11.95%, was the worst performer on the day.
The best performers from the top 50 largest cryptocurrencies by market capitalization included TRON (up 13.11%), Basic Attention Coin (up 12.81%), Populous (up 11.55%), Komodo (up 10.51%), Monero (up 5.78%), Ark (up 4.77%), Decred (up 3.86%), and Stratis (up 3.36%).
The worst performers from the top 100 largest cryptocurrencies by market capitalization included Dogecoin (down -8.29%), VeChain (down -7.64%), Ethereum Classic (down -6.34%), DigixDAO (down -6.11%), OmiseGo (down -4.59%), Stellar (down -4.49%), and Cardano (down -3.63%).
Bitcoin Prices Could Top $40,000
Today, Llew Claasen, executive director of The Bitcoin Foundation, predicted that the cryptocurrency will top $40,000 by the end of the year.
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Claasen also predicted that 90% of other cryptocurrencies would see their value decline in 2018.
The sentiment that many cryptocurrencies could plunge this year also received support today from Goldman Sachs Group Inc. (NYSE: GS).
The CIO of the Wall Street bank's Private Wealth Management Group gave an interview on cryptocurrency and blockchain technology this week.
The institution believes that "cryptocurrencies in their current format, meaning that in the current incarnation, are in a bubble."
Ripple Prices Retreat After South Korean Test Trial Ends
The price of Ripple dipped more than 2% as traders digested the results of a major test trial.
Woori Bank, one of South Korea's largest banks, has finished a remittance trial for cross-border payments using Ripple's underlying blockchain technology.
According to reports, more than 60 Japanese banks have been participating in a major remittance project.
The project is accelerating so quickly that many analysts are starting to anticipate that Ripple could license its cross-border payment technology as soon as this year to these banks.
China Ramps Up Offshore Exchange Monitoring
According to local news reports out of China, the nation's government is keeping a close eye on communication between its citizens and offshore cryptocurrency exchanges.
China is specifically targeting any cryptocurrency exchanges that moved offshore in the wake of the nation's local ban on trading.
Chinese regulators have taken aim at Bitcoin and other cryptocurrencies in an effort to prevent money laundering and other illicit activities.
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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.