Investing in Monero (XMR.X): the bull and the bear case (February 2019)

12:13 pm ET, 03 Feb 2019

Monero (XMR.X) is trading at $43.46, roughly flat in the course of the last 24 hours. Monero is one of the most popular privacy coins, advocating for promptness, privacy and security, also diminishing any third-party interference.  

When it comes to investing in Monero, these are some frequently asked questions: 

  • Is Monero currently a buy or a sell?
  • Should I sell or hold Monero today?
  • Is Monero a good buy/investment opportunity?

Here are the reasons to buy Monero (the bull case):

1. Thanks to Ring CT signatures used by the network, Monero is set to protect the privacy of XMR users by shielding wallet addresses and protecting sensitive information on transactions.   

2. Mining Monero doesn't require any special mining equipment. You can download a Monero wallet and click a single button to start mining, consequently leading to a broad distribution of XMR units, thus increasing the adoption rate of Monero. 

3. Monero is created to adapt the block size limit according to the number of transactions on the network. In comparison to Bitcoin block creation that takes 10 minutes, Monero can create a new block five times faster, which indicates that transactions made with XMR are faster than those using Bitcoin. 

Here are the reasons to sell Monero (the bear case):

1. Monero is often involved in illicit activities like malware-mining, also representing the most commonly used crypto on the Dark Web.  Those use cases are out of the network's control. 

2. Monero became a target of several 51% attacks due to high vulnerability levels. However, Monero devs claim that the risk no longer exists after one of the latest updates to the network.

Over the last 30 days, XMR.X lost -13.8%.  This is 4.68 percentage points lower than the 30-day return of Bitcoin (BTC.X).

Monero price: where does it go from now?

5:30 am ET, 19 Oct 2018

Monero (XMR.X) is trading at $105.61, down 3% compared to yesterday. Its price recently spiked at $121.50, and now we're seeing some support at $101.

What is Monero's price forecast?  What should investors be aware of when it comes to investing in Monero?

Monero's recent breakthrough against the long-term descending trendline indicates a potential reversal from the downtrend. But based on our technical analysis, there is some probability for the resumption of the sell-off rather than the reversal. The 100-day Simple Moving Average (SMA) is still below the long-term 200 SMA, indicating that the downtrend may continue.

What drives Monero's price up is the fact that the team is making significant headways in reducing the cryptocurrency's vulnerability to attacks. Hackers like Monero because the sources of transactions (or destinations) are generally not known, so there is no need to worry about government or corporate supervision and intervention. The other reason hackers like it is because Monero is CPU/GPU-friendly for hacking operations.

Despite the significant price decline, 2018 hasn't been a terrible year for Monero. The technology has improved, and the community is as strong as ever. There has also been an increase in the number of Monero miners.

What is the near-term sentiment towards Monero?  Here are some major technical indicators:

  • MACD is in the bearish zone.  MACD (moving average convergence divergence) is a trend-following momentum indicator that shows the relationship between two moving averages of prices.  MACD is calculated by subtracting the 26-day EMA (exponential moving average) from the 12-day EMA;
  • RSI (relative strength indicator) is below 50, but still in the neutral zone. RSI compares the magnitude of recent gains and losses over a specified time period to measure speed and change of price movements of a security;
  • A new major support level is forming at $101;
  • A new major resistance level is forming at $112.

Over the last 30 days, XMR.X lost -4.92%, which is 4.98 percentage points higher than the 30-day return of Bitcoin (BTC.X).

Monero's price: all you need to know

5:52 am ET, 10 Sep 2018

Monero (XMR.X) is trading at $106.54, up 1% from yesterday.  The cryptocurrency dropped precipitously since this month's high of over $139.  What is Montero's price forecast? What does the future hold?

Currently, Monero is the 10th largest coin by market capitalization.  Crypto miners are attracted to Monero because it has emerged as the most profitable altcoin in the past few months.

A research firm Satis Group, which forecasts the cryptocurrency market and the fate of individual cryptocurrencies, published a reporting stating that Monero could be worth $18,000 within the next five years. That represents a more than an 18,000% increase from its present value, which stands at just over $106.

Monero is recognized as the crypto asset with the strongest privacy features.  The Monero platform is designed in such a way that all the XMR transactions remain 100% unlinkable and untraceable.  Features such as stealth address and ring confidential transactions (RingCT) are key to ensuring privacy on the platform.

Here are the major technical indicators:

  • MACD is placed in the bearish zone. MACD (moving average convergence divergence) is a trend-following momentum indicator that shows the relationship between two moving averages of prices.  MACD is calculated by subtracting the 26-day EMA (exponential moving average) from the 12-day EMA;
  • RSI (relative strength indicator) is moving down into the oversold territory indicating exhaustion among the buyers and taking over of the sellers.  RSI compares the magnitude of recent gains and losses over a specified time period to measure speed and change of price movements of a security;
  • A new major support level is forming at $102.35;
  • A new major resistance level is forming at  $115.95.

Over the last 30 days, XMR.X gained 17.61%, which is 19.29 percentage points higher than the 30-day return of Bitcoin (BTC.X).

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