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Monero (XMR) Price Analysis: Will There Be a Surge after the Dip?

Monero is a well-known privacy coin and at the same time one of the top ten currencies in accordance with its market capitalization, currently taking the spot of the tenth-largest crypto in the market.

Monero is actually a hard fork derived from Bytecoin but has come a long way since being forked out of the above-mentioned crypto, becoming one of the most popular coins in terms of privacy.

Although a part of the top ten crew XMR itself has had some rough time during 2018 as it became a victim of more than a single 51% attack which revealed a vulnerability in its RingCT protocol.

As the team is also working on diminishing the unflattering reputation of being tied to malware mining of XMR, although Monero and its dev team practically don’t have to do anything with the widely spread malware mining.

Monero (XMR) – Monthly Price Chart for October – Coin Market Cap

Dropping from trading at the price of 114$ to now being traded at the value of around 102$ during the period of the last 30 days, XMR is surely marking losses in accordance with the dipping market.

This poses a question on whether Monero is able to bounce back up or is it rather going down by the end of 2018.

Monero (XMR) Price Prediction: XMR Going Up or Down by the End of 2018?

Monero is showing a true image of the current market trends as it is dropping in the last 24 hours with the majority of currencies.

Although the cryptos are trying to bounce back up with bear gains that are going up below 1% at the moment of this writing, XMR is losing -1.20% on the first day of November.

Moreover, XMR is going down on weekly, biweekly, and monthly charts, showing -2.5% against the fiat in the last 7 days and nearly -5% in the last two weeks.

XMR is also down by -10% in the course of the last month, alongside with dropping by over -15% in the last 60 days.

XMR is definitely not alone in this market dip as the rest of the top 10 currencies are not showing any more progress against the fiat.

What Can Push Monero (XMR) Up by the End of 2018 and the Beginning of 2019?

Monero reached a flattering value of nearly 500$ per one XMR unit back in January of 2018, however, it soon declined by over -80%, now being traded at almost 5 times lower price.

Despite the evident losses, some crypto analysts believe that XMR could rebound to go over 300$ per one unit, but others are predicting Monero to go below the initial value of 100$ by the end of 2018.

What can possibly push the value of Monero up by the end of 2018 and 2019 might be the fact that the team behind XMR is working on improving the privacy of their native currency, also having numerous exchange markets lowering fees for withdrawing Monero.

Monero also got support from Trezor, the famous hardware wallet, which can provide an additional boost much needed for XMR in the market at the current moment when the currency is headed towards 100$.


Author: Maja

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