Litecoin Prices Drop 20% as Crypto Market Cools

Litecoin prices fell 20% after a wave of new investors helped push the price above $100 yesterday (Nov. 29, 2017).
The price of Bitcoin also fell below $9,500 just a day after hitting an all-time high of $11,395. A dramatic sell-off across the entire cryptocurrency market shed more than $50 billion in total market capitalization.
The sharp downturn came shortly after two major exchanges reported a huge surge in traffic, which created a series of bugs and disabled trading across networks.
Joining in on the crusade against cryptocurrencies, economist Joseph Stiglitz argued that Bitcoin’s lack of oversight and potential use in illegal activities should draw greater regulatory scrutiny.
‘It seems to me it ought to be outlawed. It doesn’t serve any socially useful function,’ he told Bloomberg.
Below is a recap of the top cryptocurrency prices at 12:00 p.m. EST
Bitcoin: $9,431.85, -13.96% Ethereum: $414.18, -16.54% Bitcoin Cash: $1,259.04, -21.79% Ripple: $-0.2334, -15.98% Dash: $745.08, -0.60% Bitcoin Gold: 276.13, -19.91% Litecoin: $79.72, -20.82% Now that we know all of today’s price movements, here’s what has been moving these cryptocurrencies…

This post was published at Wall Street Examiner on November 30, 2017.