Self-moderated thread for discussion of Monero trading and price speculation.
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***Reasons For Monero Speculation
Monero has managed to generate a degree of widespread adoption in the crypto-world, surging more than 250% in some cases. It has experienced sharp gains this year as the Cryptocurrency space draws in more profit-hungry investors. There are several points to consider regarding so much hype and Monero speculation around its future.
- Fungibility and Widespread Adoption: Fungibility is the main feature that makes Monero a better option. Fungibility results from a high level of privacy and results in every individual unit capable of being substituted with another. In other words, every coin has equal value. Merchants and other companies like VeraCrypt have thus started accepting Monero because of its transactional anonymity.
- Adoption by Exchanges: As mentioned earlier, Monero’s fungibility feature has resulted in a lot of demand for this currency. Because of Monero’s widespread adoption by merchants, investors and traditional traders, many exchanges in Asia and some in the west, such as Kraken, Bitfinex, Poloniex etc, have started allowing Monero trading. The decentralised anonymity features have also attracted some illegal or “dark web” marketplaces, where they are readily accepted, adding to the popular Monero speculation and demand. Among the dark web market places, the Monero adoption of AlphaBay and Oasis has generated quite the media storm in recent times.monero speculation
- Monero’s Regulatory ComplianceMonero’s Market Scope: The market scope of Monero is expected to grow exponentially in the coming months, prompting investors to pour significant funds into the Cryptocurrency. Exchanges like Bitfinex and Poloniex have paved the way for widespread adoption by allowing eight separate currency pairs associated with Monero trading. This allowed several Cryptocurrency traders to take part in active trading.
- Monero’s Working Principle: The mechanism behind Monero is seen by many specialists and investors to be safe and foolproof. Like other currencies, Monero can be mined by interested parties, either individually, or by joining a mining pool. This allows any individual with a computer to actively take part in Monero mining, helped more by the fact that it does not require any specific hardware like ASICs. Another feature that attracts investors greatly and has helped fuel the recent Monero speculation storm is its Proof-of-Work algorithm. It allows access to a wide range of processors, which ensures mining is achievable by different individual parties and not just by a big mining pool.
monero card
***Monero Speculation For 2018
Because Monero’s price volatility has caught the eye of many market observers, they still do not consider Monero to be credible enough. However, the sharp price fluctuations like the ones experienced in 2017 will provide more opportunities for profitability. Another Monero speculation outcome would be investors using it as a hedge for other cryptocurrencies since it can be bought with several fiat currencies and other cryptocurrencies. It has also generated in underground sectors like multiple dark web marketplaces, which in turn makes it less speculative. All of this is welcome news for Monero and its investors for the coming year.
monero chart
***Closing Thoughts
Supply and Demand are predicted to be the eventual influencers for Monero speculation in the near future. While supply is still growing, the degree of demand cannot still be explicitly found out. This can be favourable for investors who can take the opportunity to speculate on its future value for strong returns generation. Now that you have read about Monero speculation for 2018, you may consider reading about Ripple speculation.
