That depends, in bullish times people tend to forget the fundamental; where does the money come from?
In order for a coin to just maintain a certain level, then will fresh fiat constantly have to be put into the ecosystem.
I do recognize the dark adaptation and the future gui app.
However I think is very difficult to make any predictions right now, since all the sharks have landed to get their share of the pie.
If you look at the trading right now, the majority of orders are just bots doings their thing.
Don't get me wrong I believe in XMR, not trash talking here - but 2-3 days of graphs is a very thin basis for predicting anything.
Some of us have been predicting this for years. Clearly we had a model which had some predictive value. Yes it was hard to maintain faith with that model when the price plummeted in nominal Bitcoin terms from the mintpal pump out to the January 2015 lows. However I at least was buying at those lows.
I don't think any fiat to speak of has come into Monero yet. Some has, but it is negligible. The overwhelming bulk of Monero purchased has consisted of conversion of Bitcoin into Monero. Bitcoin derived from selling Monero in part was reserved and in part sold by the Monero miners to pay their expenses and derive a cash profit. The Net cash flow into and out of crypto has probably been outward as a result of the Monero phenomenon to date. That is going to change very soon. Very very soon.
While there are many strong and cogent analogies between the evolution of Monero and that of Bitcoin it is important not to apply those lessons in areas where they are not applicable. So far the lack of direct exchange to fiat has created a substantially different dynamic which has kept the price of Monero much lower than it will be in future, when it becomes easier to go from Monero to fiat and back without a btc intermediation.
. I think it has to drop some soon and I will be ready and waiting. Been holding the same coins for at least a year and this week was the first time I bothered to check them. Thanks djjacket for talking me into accepting them.
