💸 Crypto Price Updates: February 21st 🌙

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

Summary Of 24 Hour Price Action:

Bitcoin and Litecoin experienced strong upward movement only to fall back down to yesterdays prices. ETH and XRP continue to consolidate and move sideways. NANO continues to spiral downwards.

Bitcoin

24 Hour Price Action:

• Bitcoin approached $12,000 within the past 24 hours
• Some analysts believe that progress with government regulations could push the price up even further.

A few factors could contribute to a rising Bitcoin price

https://www.cnbc.com/2018/02/20/bitcoins-bouncing-back-here-are-the-next-big-catalysts-for-the-cryptocurrency.html

Crypto Phil's Take:

It's been a good week for Bitcoin. South Korea greenlighting cryptocurrencies, big exchanges adding SegWit support, and positive sentiment for Bitcoin growing again. We may see Bitcoin climb back up over $12,000 in the near future if things continue like this.

Ethereum

24 Hour Price Action:

• Ether fell nearly 5% within the past 24 hours had a good day as well with prices rising to well over $900.
• Somewhat surprisingly, ETH doesn't appear to be following BTC too closely lately.

Ether may be consolidating before it's next bull run

https://www.ethnews.com/analysis/02-20-2018-ethereum-price-forecast-ether-consolidating-above-900

Crypto Phil's Take:

I think if ETH breaks through resistance levels around $980, we may see it rise over $1000 again. However, if it falls below $900, we may see it test $800 again.

Ripple

24 Hour Price Action:

• Ripple fell nearly 5% over the last 24 hours
• Ripple continues to secure major deals

Despite a lack of movement on the price front, Ripple continues to secure major deals with financial companies

https://www.fool.com/investing/2018/02/20/ripple-just-announced-a-partnership-with-this-majo.aspx

Crypto Phil's Take:

Ripple's price appears to be consolidating. From a fundamental's perspective, I believe we have every reason to be bullish on Ripple's price. However it will take breaking resistance around the $1.10 level for the price to break out.

Litecoin

24 Hour Price Action:

• Litecoin had a very strong showing today with the price shooting up to nearly $250, although at the time of this posting it had fallen back into the $220s.
• News of Litepay, the Litecoin Cash fork, and positive sentiment from South Korea may contribute to rising Litecoin prices.

Experts believe the Litecoin Cash fork contributed significantly to the recent rise in price

https://www.express.co.uk/finance/city/921638/litecoin-litecoin-cash-hard-fork-China-bitcoin-cryptocurrency

Crypto Phil's Take:

Things are looking good for Litecoin again, between the hard fork and the good news about not banning Crypto in South Korea. That being said, I think any major price changes from here on out will be dependent on Bitcoin price fluctuations.

NANO

24 Hour Price Action:

• NANO's price fell as low as $6 within the past day
• FUD from BitGrail exchange owner, Francesco Firano, may continue to drive the price down in the near future.

Crypto Phil's Take:

NANO is a frustrating coin to hold sometimes. Despite having amazing fundamentals, the recent loss of $17,000,000 worth of NANO on BitGrail exchange is leading to a lot of fear, uncertainty, and doubt. Unfortunately, the recent price drop shows that NANO isn't ready to recover yet. I fear at this rate, it may be months until NANO recovers to all time highs. That being said, I'm still optimistic for NANO long term.

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.