Bitcoin Price Forecast Soars to $20,000 - Ronnie Moas

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.

Must Read: You Can Invest in Bitcoin Without Buying Bitcoin

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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