Topic: [XMR] Monero Speculation - page 389. (Read 3313670 times)

https://steemit.com/bitcoin/@sayyedraza/xmr-monero-speculation

is there a point to plagiarizing a 7 month old steemit post?

Monero was wounded after a massive fall. But I think that you will gather soon. Already the market's robust projects. We need to wait.

Some of my thoughts on Monero and the current crypto currency boom.

Monero has been in a consolidation phase with respect to Bitcoin since August of 2016. Take a look at the XMR/XBT weekly chart on a log scale https://bitcoinwisdom.com/markets/poloniex/xmrbtc and tell me what you see. The last major move was from 0.0016 XBT in June 2016 to a high of 0.0265 XBT in August 2016 for an increase of over 1600%. If the 0.0265 XBT high is broken on volume another major move upward is possible.

The current @crypto currency boom has seen Bitcoin to fall to under 40% market dominance. To put is bluntly this is indicative that there is something seriously wrong with Bitcoin. My take is that this is related to the fixed 1 MB blocksize limit in Bitcoin together with the consequence of skyrocketing fees and seriously delayed transactions. These are problems for which @Monero has a solution. The market is looking for an alt coin solution and for the time being has focused to a large degree on Ethereum. My take is that while @Ethereum has its uses that may justify its market cap replacing BItcoin is not one of them.. If the market chooses Monero then all bets are off.

The hackers are quietly hacking away. Sooner or later significant improvements will materialize. As to when? Who knows. That is the nature of FLOSS development. A recent example of this is multi sig, which is current being tested and not yet ready for main chain deployment.

My take is that if one is short Monero, the risk of a brutal negative reckoning is very high. As to when and to what extent I have no idea

looks good to me? https://bitcoinwisdom.com/markets/poloniex/xmrbtc

The whole market has been undergoing a downward movement. Monero got what he got from this. But I think it is the first project to recover.

Have we hit the bottom? Or is this just a bounce?

Edit: I think we've hit it and given it a couple of smacks around the face. Told it we were through, and that it could go to hell. We are so over it.

I only have a small amount of Monero in my wallet with I mined with my graphics card. But while looking at the charts I can see that the most powerful altcoin is Monero. You can understand just by looking at the weekly logaritmic graphics and see that it is really different from all the rest altcoins, it moves its destination. I understand that Monero's specialities makes it different, and people think privacy that Monero offers is very important.
In the future if most of the altcoins would be dead, Monero will not be one of them.

On meeting he said that he will have meeting with those that are making review yesterday. So basically whatever he said today would be legitimate. And also that on Sunday will be next dew meeting just about bulletproofs.  I do believe we will hear quite final decision on Sunday.

Well, the pros here have proved their worth again.
Will momentum carry the market lower? There's not even a dead cat bounce.

If btc find its suppprt on 8000 then xmr will be below 230... correction was needed, but it looks scary. As long as crypto still has a future, I hodl and believe in xmr

Never a worry with XMR. Just fill yer boots with as many as you can. We have been here many times before, and those long term hodlers are so used to these cycles we just ride them, i used to get so stressed and depressed when xmr tanked, now i almost find it amusing that its become so predictable.

made me laugh as well that so many put the btc tank down to the Asian exchange news....seems to work everytime still. Bitcoin is a technical beast, fundamentals seem to be orchestrated perfectly to fit its technical trading. Honeybadger dont give a monkeys.

It seems we are not safe yet... 400 bi total marketcap is a support... hope we hold

That will nicely fall in line with my $777 price on Feb 27! I also picked this date as it's just a few days after the official Chinese New Year celebration ends (scientific!). I actually took some trading moneros off the table around 0.0295 expecting there will be a decline for the next 4 weeks or so. I just wish I wasn't so timid. Still waiting to buy back in and then some.

Well hell.  You are correct.  I use it for several other markets no prob, only works for other fiats, it seems.  Oh well,  LCW does the trick.

Checking that box has never seemed to change anything for me, unfortunately

EDIT: ok it does work for fiat pairs like XMR/EUR, but not XMR/BTC.

Yep, at the click of a button, under the settings tab(gear icon).  I tend to just keep an eye on Livecoinwatch  though.

You're probably correct, but I only look at USD markets (where $477 seems to be the top) because as far as I can tell cryptowatch doesn't chart BTC pairs in USD. That would be a nice feature.

Pretty sure we saw both of these on Poloniex BTC/XMR market in late December...

My bet is always the same: 5X wherever the price stabilizes, 45ish days after the bottom. So if we stick around $300 moving forward, that puts us at $1500 in early March.

Looks like we all managed to survive.

So - the 64,000 dollar question - if this is the bottom, when and what is the next top?