Monero VS Bitcoin Downside RiskFollowing the previous idea on Monero VS Bitcoin , the price reached the upside target at 76.4% Fibonacci retracement level. Although XMR/BTC went higher than 0.03, it failed to show a clean break above the resistance and formed a double top at btc 0.032, accompanied with a bearish divergence on the RSI oscillator.
Since the btc 0.032 high was reached, Monero has been moving slights downwards within the descending channel. On 17th of February, it rejected the upper trendline of the descending channel for the second time and once again formed a bearish divergence. This could result in the beginning of a corrective move down towards one of the Fibonacci support levels. The nearest support is at btc 0.026, that is 61.8% retracement. Break below could push price lower either towards btc 0.023 or 0.02 where the key support is based.
On the upside, only break and close above the key resistance at btc 0.032 should confirm the bullish scenario sending Monero to a new all-time high against the Bitcoin.
Xmr-btc
Why Monero’s Use Value Will Go Well Beyond any Crypto CrashElevator Pitch
Monero is a cryptocurrency that specializes in anonymity. The coin cloaks transactions and their amounts. Monero also hides all previous transaction history of a coin, which is much different from coins like Bitcoin that have an open ledger for all to see. This matters because it makes the coin fungible- any particular coin can be exchanged for another without the holder worrying about the coin’s past transactions. This unique characteristic makes Monero the most popular coin used on the darknet.
What Problem Does it Solve?
Monero keeps your data secure and hidden, which is unlike current transacting intermediaries like PayPal who share your data with over 600 companies. Not everyone cares that their data is being used as an asset, but there are certainly people that do.
Rising Through the Shadows
The darknet community has taken special interest in XMR due to its incognito characteristics. Many take advantage of these features to safely purchase illegal goods over the internet. Like that or not, it means there is a valuable use case for Monero. Darknet black markets are responsible for hundreds of millions in annual sales revenue, meaning the coin’s value will likely withstand major cryptocurrency crashes.
Monero is performing essentially the same function that Bitcoin did 8 years ago. It is rapidly becoming the primary currency for Deep Web users. Monero’s utility is likely to grow after they launch their major project, Kovri.
Upcoming Developments – Kovri
One current problem with Monero is that they don’t provide end-to-end anonymity. Unless the user is running a VPN or Tor, their IP address is still susceptible to leaks.
The developers of Monero are committed to creating a product that protects the user throughout the whole purchase journey. They started developing Kovri to achieve this.
Kovri cloaks a user’s IP address and further provides protection against network monitoring. The technology is based on Garlic Routing, which is largely viewed as an upgrade from Onion Routing. With Garlic Routing, peer’s messages are encrypted and bundled together before they’re sent over the internet, which makes it even more difficult for attackers to identify a particular user.
Kovri is currently in alpha stages, and anyone is welcome to use the application, although beware- it is not yet tailored for the technically impaired.
Once Kovri is fully implemented, it will make transactors virtually untraceable.
Litecoin Partnership
The lead developer of the Monero’s development team tweeted on January 26 about his excitement for the possible partnership with Litecoin.
Litecoin Monero Merge r
This would create the ability to do on-chain atomic swaps of LTC and XMR. Currently, traders need to first sell their coin for Ethereum or Bitcoin and THEN purchase either LTC or XMR. On-chain atomic swaps would provide a seamless way to convert LTC into XMR or viceversa. This gives easy liquidity for Monera users while also providing anonymity for Litecoin users.
Final Thoughts
Not only is Monero decentralized like Bitcoin, but they take it a step further into anonymity. The privacy properties of Monero go well beyond other coins.
Whether Monero becomes a top 5 coin or not really depends on the strength of its developers. However, considering there are over 30 and all working full-time (salaries come from donations from the Monero community) implies that it won’t likely be an issue.
Overall, Monero has a promising future ahead, and will likely be around regardless of cryptocurrency investors.
coindigo.io
xmr monero about to move after long sideways movement
accumlating and awaiting the breakout. keep eyes on this
Big Year for Monero Incoming LONG XMRBTCSo in the madness that is today's trading session XMR is shining. I have already shared the bullish long term picture but I just want to highlight a couple things. The first is what I just said, today could be a sort of capitulation day where Monero starts to lead the pack. Technically, we are at resistance and we have a nice bullish MACD crossover happening. Also, RSI rejected the 40 level twice, looks like a double bottom, and wants to go to overbought (momentum zone). The bullish flag measures to about .04 but that could just be the beginning due to the mania we are in. GL
Freakishly Long DI+ Domination LONG XMRBTCPoint : I've never seen a DI+ remain overtop DI- as long as I have here. Almost 2 years and going strong. Why get in the way? 2017 hasn't given great returns to Monero, which is really a good coin based on fundamental merits. Price rallied to highs in Sept 2016 and has been consolidating since. The upwards consolidation looks bullish to me and since DMI is rolling I'm guessing there's been a lot of accumulation here and we should move up to the next price zone soon.
Counterpoint : Bitcoin is rolling and it might be smart not to get in the way.
Monero's brother. The Bullish case for Aeon. Current price $1.40Aeon is Monero's little brother. It's maybe the only other cryptonote coin that could compete with Monero on the long term given the feature set the dev wants to implement. A code rebase is imminent and there is a vibrant community growing on reddit. This feels like the early days of Monero. Could lightning strike twice? Consider that 14,651,140 AEON have been mined out of 18.4Million before tail emission. Has the market truly priced in this asset given how few Aeon are left to mine? Is a $1 price really deserving of this fascinating coin? I think the bullish case for Aeon is strong. We may see some very wild movements in this coin to the upside in the next few months, and most certainly by the end of 2018.
#xmr #monero did anyone forget about this? #btc #bitcoinif you forgot, well you should have, you guys holding from the last top probably just dumped at the bottom and bought etc xrp and lsk. Though i expect more up as I have a bunch of alts, I think the recent bottoms in xmr will pay off with a decent R/R if we can get past the high and this makes a higher low.
dyor on coins, not financial advice. just neon crayons.
BTM | UNDERVALUED | NEWS COMING | PERFECT BUY BTM has a huge news and update coming this month a perfect buy here