XMR Monero - A Good Investment Opportunity
With the crypto markets going somewhat sideways for the day, I think it is wise to take a moment to take a look at some good investment opportunities for the 2018. Any good cryptocurrency portfolio should be a mixture of coins which represent varying risk levels. However, Monero (XMR) I think will be one of the strongest performing cryptocurrencies in 2018.
Looking at the Fundamentals
Overall, I am quite bullish on privacy coins going forward into 2018. In my mind, Monero is the Bitcoin of privacy coins. It is an older project and has a very well developed blockchain. It was the first privacy coin to hit the market and develop a strong market cap, and it has consistently been in the top 20 traded cryptocurrencies. Most importantly **Monero has a low circulating supply of about 16M.** Additionally it has a relatively low market cap of about 6G$. Given that XMR is the premiere privacy coin, this is a relatively low valuation which gives the cryptocurrency plenty of room to grow. Much like the recent bull run with ETH, XMR could see rapid steady appreciation as it continues to attract heavy investment from the financial industry.
XMR Technical Analysis
I see a lot of similarities between XMR and other slow heavy risers such as BTC and ETH. Currently, we are still in the midst of the initial run up in price with XMR. The currency has trading around the 400$ mark after hitting an all time high of around 550$ in December of last year. This was the top of a long powerful 3 wave of the initial run of the currency. Over the course of the last month, XMR has been consolidating albeit with strong upward pressure. These longer term corrections seem to be common with big coins such as XMR, and I see the coin to be right now at the stage of ETH back when it was in the 75-100$ range.
Longer term, I would expect possibly an extended 5th impulse wave which will bring the cryptocurrency to near 1000$. In terms of market cap this places XMR at a similar level to LTC. In other words, XMR is shaping up to a very good option for a long term store of value with significant potential for appreciation.
Confidence 4.5/5.0
Keep it real
@mxcrypt
## **Standard Legal Note**
These solely my own ideas. This is by no means professional financial advice and I cannot be held accountable for any investment decisions undertaken by reading this article.
Found this helpful? Feed me some crypto!
----------------------------------------
BTC Wallet :3PPENyabp2gsEfNahLyhMsgdwtjbodrtFm
ETH Wallet :0x7792cB95e9faa8B4049c88dD0dD567Cb843bc696
LTC Wallet :MXDmNsYKccTxnyXe4vpq3XrbstHsKex9S9
Looking at the Fundamentals
Overall, I am quite bullish on privacy coins going forward into 2018. In my mind, Monero is the Bitcoin of privacy coins. It is an older project and has a very well developed blockchain. It was the first privacy coin to hit the market and develop a strong market cap, and it has consistently been in the top 20 traded cryptocurrencies. Most importantly **Monero has a low circulating supply of about 16M.** Additionally it has a relatively low market cap of about 6G$. Given that XMR is the premiere privacy coin, this is a relatively low valuation which gives the cryptocurrency plenty of room to grow. Much like the recent bull run with ETH, XMR could see rapid steady appreciation as it continues to attract heavy investment from the financial industry.
XMR Technical Analysis
I see a lot of similarities between XMR and other slow heavy risers such as BTC and ETH. Currently, we are still in the midst of the initial run up in price with XMR. The currency has trading around the 400$ mark after hitting an all time high of around 550$ in December of last year. This was the top of a long powerful 3 wave of the initial run of the currency. Over the course of the last month, XMR has been consolidating albeit with strong upward pressure. These longer term corrections seem to be common with big coins such as XMR, and I see the coin to be right now at the stage of ETH back when it was in the 75-100$ range.
Longer term, I would expect possibly an extended 5th impulse wave which will bring the cryptocurrency to near 1000$. In terms of market cap this places XMR at a similar level to LTC. In other words, XMR is shaping up to a very good option for a long term store of value with significant potential for appreciation.
Confidence 4.5/5.0
Keep it real
@mxcrypt
## **Standard Legal Note**
These solely my own ideas. This is by no means professional financial advice and I cannot be held accountable for any investment decisions undertaken by reading this article.
Found this helpful? Feed me some crypto!
----------------------------------------
BTC Wallet :3PPENyabp2gsEfNahLyhMsgdwtjbodrtFm
ETH Wallet :0x7792cB95e9faa8B4049c88dD0dD567Cb843bc696
LTC Wallet :MXDmNsYKccTxnyXe4vpq3XrbstHsKex9S9
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