The adoption rate of cryptocurrency in Nigeria hits new highs and the price of Bitcoin has hit a more than 60% premium.
This is an altcoin price update; remember to check out the Bitcoin price update for February 25th.
Ethereum fell quite dramatically when Bitcoin dropped. Bitcoin saw an 8-9% drop and Ethereum faced a 21% dip. It’s easy to buy into the market and sell when you should, so hopefully, you managed to take some profits from ETH before it dipped. Ethereum has found support on the 618 extension, which is really encouraging despite the decreased price in the markets.
Like Bitcoin, the altcoins might be about to see a springboard for the bulls to react.
Litecoin has a lot of room to grow momentum with acceleration in the price. Litecoin has also faced about a 20% decrease. It feels like the dips are just a technical retrace rather than manipulation.
Ripple is still finding resistance, so I’d wait for it to break major resistance on the upside before buying in.
Please note: This video was posted just before Coinbase announced that it would be listing XRP on its exchange.
My video below offers a more detailed analysis with the charts and deeper insight into the market movements.