Cryptocurrencies surged after New York open following reports that Walmart would accept Litecoin [Video]

Cryptocurrencies surged just after the New York open following reports that the US Walmart chain would accept Litecoin as a payment.

Bitcoin surged to highs around $47,000, but the report was subsequently confirmed as fake and coins plunged once again with bitcoin lows below $43,500.

Volatility eased later in the session with a corrective recovery. Markets were still notably cautious over the overall regulatory environment, but bitcoin edged higher to above $45,000 on Tuesday.

Ether also spiked to highs near $3,400 before a slide to below $3,200 and consolidation below $3,300 on Tuesday.