💸 Crypto Price Updates: February 12th 🌙

Price Action And Relevant News For A Few Coins In The Top 25 By Market Cap

Summary Of 24 Hour Price Action:

The market in general seems to have been recovering nicely over the past 24 hours. On average, most coins are seeing a price increase of 6%. Easing of regulatory fears and the entire market being oversold may be contributing the general upward trend we've seen over the past few days.

Bitcoin

24 Hour Price Action:

• Bitcoin is up over 8% over the past 24 hours. A non insignificant recovery from lows of $6000 on February 5th.
• The recent bullish news from regulatory agencies within the U.S. seem to have ended the recent downtrend and may help the price recover even further within the next few days.

Analysts Predicting $10,000 Resistance Levels

https://cointelegraph.com/news/bitcoin-price-makes-little-progress-this-week-as-analysts-spy-10k-resistance

Crypto Phil's Take:

It's still to early to tell if we're going to keep on recovering back over $10,000 and beyond. This could very well end up being a bull trap and I would not be surprised. Breaking through $10,000 again within the next few weeks would be very telling. That being said, it does look like BTC has either finished a market cycle, or is close to finishing one. After which I would expect the price to start trending upwards again.

Ethereum

24 Hour Price Action:

• Ethereum is up nearly 6% since yesterday.
• Ethereum has been less affected by the recent correction compared to Bitcoin but it's still down heavily from it's all time highs. However it may now be following Bitcoin back up.

Interesting Reddit Thread On Ethereum Price Predictions

https://www.reddit.com/r/ethtrader/comments/7x35dg/recent_collective_prediction_results/

Crypto Phil's Take:

I'm very bullish on Ethereum long term. I always say this but just look at how many tokens run on the Ethereum blockchain. That alone gives me confidence that Ethereum is here to stay long term.

Ripple

24 Hour Price Action:

• Ripple is also up in the last 24 hours, clearing just over 5% gains.
• Ripple scored some good news by landing its largest client in the Middle East, UAE Exchange. This is good news which could positively affect Ripple's price in the short term.

Ripple's Deal With UAE Exchange Is Good News

https://www.reddit.com/r/ethtrader/comments/7x35dg/recent_collective_prediction_results/

Crypto Phil's Take:

Love it or hate it, Ripple continues to land deal withs with prominent financial institutions across the globe. It already surpassed Ethereum in market cap a few months ago, no matter how short lived. In my opinion XRP is finishing a market cycle and will start trending upwards and onwards to new highs within the next few months.

Litecoin

24 Hour Price Action:

• Litecoin, as always, is following Bitcoin closely with 7% gains over the past day
• Litepay, a service that plans to make paying with Litecoin as easy paying for things with a credit card, is supposedly launching very soon. Litepay could be big news for Litecoin adoption and it's price in the near term.

Litepay Could Spur More Adoption For Litecoin

https://www.theindependentrepublic.com/2018/02/12/4-reasons-to-be-bullish-about-litecoin-ltc/

Crypto Phil's Take:

I use to be all in with Litecoin but these days I'm not so sure. With Lightning Network on the horizon for Bitcoin, I'm not sure what advantage Litecoin could retain if Lightning is a success. Litecoin's original purpose was to handle every day transactions whereas Bitcoin would be more of a digital store of value. But if Lightning Network is able to significantly reduce Bitcoin fees and transaction times, what would be the reason to continue using Litecoin? Food for thought.

NANO

24 Hour Price Action:

• NANO, despite a really, really rough week for the coin, is up nearly 13% within the past 24 hours.
• Black Block Research Issued A BUY Rating For NANO, good news that may help NANO recover even further within the next few days.

Black Block Research Is Bullish On NANO

https://www.theindependentrepublic.com/2018/02/12/4-reasons-to-be-bullish-about-litecoin-ltc/

Crypto Phil's Take:

It's been a really tough week for NANO but the fundamentals on this coin are just too strong. The recent non stop FUD surrounding NANO and overall bear market have brought the price down a lot. But I think it's massively oversold at it's current price.

Want me to cover some other coins in the future? Let me know in the comments down below.

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Please remember this all just my personal opinion and not financial or investment advice. Do your own research before spending any money or making any decisions.