Monero is pretty much the best privacy currency on the market. It has developed a reputation as being uncensorable, and helpful in sending money without any sort of traceability, including by the government. But is Monero (XMR) viable as a long-term crypto investment option, one that can resist the test of time and give vital gains in the long run? Well, looking at its fundamentals, indications are that Monero is not just a good investment, but could develop as one of the best crypto investments moving into the future.
Monero Price Prediction
Monero earlier announced the bulletproof protocol to enhance its privacy features further. In 2014 when Monero [XMR] was started as an ICO, XMR developed as the first privacy-oriented digital currency while Bitcoin (BTC) had transparent addresses that permit anyone to view and trace your transaction activities. The prediction for the calendar year end of 2018 is about $ 650. Furthermore, the five-year forecast is about $ 2000. This guarantees that from the present level as well, the appreciation which can be achieved in this cryptocurrency is notable.
Is It Profitable To Invest In XMR?
Monero can be a profitable investment option. Monero price equal to 110.272 USD at 2018-09-13. If you buy Monero for 100 dollars today, you will get a total of 0.9068 XMR. Based on our forecasts, a long-term increase is expected, the price prognosis for 2023-09-08 is 838.389 US Dollars. With a 5-year investment, the revenue is supposed to be around +660.29%. Your current $100 investment may be up to $760.29 in 2022. Monero price today is $110.272 and have the market cap value $1,742,353,417. The current supply is 16,519,105 XMR, and the volume sits at $11,939,003..
Monero Could Hit $1000 Mark
There are two main reasons why XMR could hit the $1000 mark. They are;
- People will always need to hide money
Monero has developed a reputation as crypto that is genuinely untraceable. This means that anyone watching to protect money for whatever reason, whether illegal or otherwise, can perpetually turn to it. For a Monero (XMR) investor, this is a big plus to the long-term value of this crypto. That’s because people will forever require to hide money. Since traditional havens for storing money are no slowly shutting up, wealthy people will pretty much shift to Monero (XMR) for its secrecy and fungible nature.
- Monero has the characteristics of money
One thing that makes fiat currency value its fungible nature. This means that one unit of fiat has the same value as the next unit, irrespective of its origin. Monero has similar attributes. One group of Monero holds the same amount as the next Monero unit regardless of its roots. This is a big deal to the long-term value of Monero (XMR) because it means that, anyone can use Monero (XMR) without fear that exchanges will blacklist their coins. By this attribute, Monero will, in the long run, draw in all kinds of users both in the corporate world and in the criminal underworld. As money flows in, the value of Monero (XMR) will grow substantially in the long-run.
XMR Attempts A Bullish Reversal After Breakout
Monero (XMR) was capable of bursting through a descending channel this morning signaling a bullish reversal. Unfortunately, the price faced opposition at $150 and started pulling back. The Fibonacci retracement tool from the latest price breakout followed as possible support levels for the bulls. The price of Monero is currently pulling back after the powerful upside breakout.
Future Predictions For XMR
The crypto regulations can be a warning to this cryptocurrency. This is the only thing which you must to look out for when funding in this cryptocurrency. Since it is decentralized and not managed by a single Association, the future looks hopeful for this crypto. Thus, if you’re in search of a cryptocurrency to spend in for the next couple of years, Monero certainly seems to be one of the excellent options which you can spend in. It will help you in broadening your portfolio efficiently as well.
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