Bitcoin, Ethereum, Bitcoin Cash, Ripple, Stellar, Litecoin, Cardano, NEO, EOS: Price Analysis, Feb. 12

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The cryptocurrency market data is provided by the HitBTC exchange.

While a buy and hold strategy has proven to be beneficial to the early Bitcoin investors, the late entrants have used the wild price swings to add to their Bitcoin numbers. We can see from the charts in this article that the whales have increased their Bitcoin holdings over the past couple of years.

In these price swings, an average trader buys at the highs and sells at the lows. We have been trying to help our readers avoid this pitfall. All along through this fall, we have refrained from suggesting aggressive long positions. But, do we find a short-term bottom now?

Let’s see.

BTC/USD
We were expecting Bitcoin to retest the lows after turning down from the trendline. But the bears could not break below the $8,000 mark.