Reasons for the Monero ($XMR) price spike: trading contests?

[z00py]

Here is a good overview explaining the recent price spike of the Monero (XMR) cryptocurrency. It appears like the biggest Korean exchange has set a trading-contest for the coming weekend (end of August). As this article points out, there are additional events (technical and also consumer adoption) which could explain the interest. Any opinions?

https://steemit.com/monero/@cryptores/reasons-for-the-monero-usdxmr-price-spike-and-why-it-will-grow-more-mobile-wallet-bithumb-localmonero-ringct-2-0

[covfefe_]

It's not just about bithumb. Monero was having a steady rise even though there was no news of bithumb including it.
It too is a reason for the quick spike. But monero is here to stay.

[jezus]

When i check history trading price was the same 6 month ago.

[chesatochi]

Monero provides something Bitcoin do not provide. The right to keep your transactions history private instead of an open ledger that everyone can see on the blockchain.

This crypto will continue to rise from my view of view, and I plan to add it to my crypto portfolio in the near future.

[goin2mars.]

Doubtful.

Who would spike a price 80% in a months time for 5x 100 Monero?

At the time this was about $50 usd each.

Basically you'd be better off pumping some other shitcoin.

Even now at 130 usd, this still barely pays to spend the time on it.

You'd be better off considering that the ethereum narrative has been portraying a move toward pos. Whales aren't just going to let their miners idle into obscurity.

[muenze]

Monero has a real life use in the darknet, also Bitcoin reached a new height so some might have sold bitcoin and invested where they see more potential for the moment.

[Febo]

Next six months will definitely belong to Monero. Since all long awaited things will happen and Monero will become as ready for adoption as any Bitcoin clone. 
But on the other hand I could say next 2 years will belong to Monero since emission finally started drastically slow down. Monero is becoming scarce.  After hardware wallets kick in, there will be only few left on Poloniex.  Price will go $1000+

[Dart315]

Next six months will definitely belong to Monero. Since all long awaited things will happen and Monero will become as ready for adoption as any Bitcoin clone. 
But on the other hand I could say next 2 years will belong to Monero since emission finally started drastically slow down. Monero is becoming scarce.  After hardware wallets kick in, there will be only few left on Poloniex.  Price will go $1000+

When to buy monero then, now or later? What do you think?

[Altcoinster]

I've got a pile of different coins and I hope they all go up. I feel like Monero (XMR) holds the most promise and is fundamentally the strongest coin to be used as money - it's the largest portion of my portfolio. Which crypto are you placing your biggest bets on?

[coinfoundry]

It's not just trading contests but also about people realizing more and more that XMR has a real value proposition, a solid developer base and a working product compared to many other coins that just exist solely based on a whitepaper.  Additionally this article is likely to contribute as well: https://www.coindesk.com/monero-getting-version-localbitcoins/

[Febo]

Next six months will definitely belong to Monero. Since all long awaited things will happen and Monero will become as ready for adoption as any Bitcoin clone. 
But on the other hand I could say next 2 years will belong to Monero since emission finally started drastically slow down. Monero is becoming scarce.  After hardware wallets kick in, there will be only few left on Poloniex.  Price will go $1000+

When to buy monero then, now or later? What do you think?

There is always good time to buy Monero. If you dont want to risk daily changes, just buy a bit every day. 1 Monero a day.  After 2 years you will be really happy guy.   100 XMR should be a good pension.

[cellard]

Next six months will definitely belong to Monero. Since all long awaited things will happen and Monero will become as ready for adoption as any Bitcoin clone. 
But on the other hand I could say next 2 years will belong to Monero since emission finally started drastically slow down. Monero is becoming scarce.  After hardware wallets kick in, there will be only few left on Poloniex.  Price will go $1000+

What is supposed to happen in the next six months for Monero, because I don't see anything interesting happening in the pipeline that I know of. Is something big going to happen at a technology level like a big update of sorts that could pump the price? Any improvements in privacy?

From what I have noticed from past events, the main reasons Monero, and most, pump, is because they get added in big markets (like Bithumb) which bring a lot of liquidity. In order for a coin to have a solid pump from technology upgrades, said upgrades must be something big (like segwit) and I dont see any segwit-tier improvements being made in Monero that I know off.

[Dart315]

Next six months will definitely belong to Monero. Since all long awaited things will happen and Monero will become as ready for adoption as any Bitcoin clone. 
But on the other hand I could say next 2 years will belong to Monero since emission finally started drastically slow down. Monero is becoming scarce.  After hardware wallets kick in, there will be only few left on Poloniex.  Price will go $1000+

When to buy monero then, now or later? What do you think?

There is always good time to buy Monero. If you dont want to risk daily changes, just buy a bit every day. 1 Monero a day.  After 2 years you will be really happy guy.   100 XMR should be a good pension.

Cheers!
Gonna follow your advice. Do you participate in Monero's life(like a dev, for an example) or just buying like an investment?

[kryptqnick]

I bought some monero but sold most of it due to the pump. Perhaps I should buy more again. But, actually, I don't like investing is expensive coins. You have to spend a lot of money for the price change to make a difference. And apart from anonymity Monero doesn't offer anything new anyway, so I guess it is meant to be a coin for trading.
I prefer coins under $25. Investments in giants don't work out very well for me. I hold lisk, adx and neo. Hope to see them pump hard till the end of September.

[Febo]

Next six months will definitely belong to Monero. Since all long awaited things will happen and Monero will become as ready for adoption as any Bitcoin clone. 
But on the other hand I could say next 2 years will belong to Monero since emission finally started drastically slow down. Monero is becoming scarce.  After hardware wallets kick in, there will be only few left on Poloniex.  Price will go $1000+

What is supposed to happen in the next six months for Monero, because I don't see anything interesting happening in the pipeline that I know of. Is something big going to happen at a technology level like a big update of sorts that could pump the price? Any improvements in privacy?

From what I have noticed from past events, the main reasons Monero, and most, pump, is because they get added in big markets (like Bithumb) which bring a lot of liquidity. In order for a coin to have a solid pump from technology upgrades, said upgrades must be something big (like segwit) and I dont see any segwit-tier improvements being made in Monero that I know off.

Monero is already most private coin of all. Next fork that will happen this month will increase that with mandatory mixing and i think also increased.  Not sure when we will see Kovri. Kovri in Monero build TOR. Sinc eis open source project you never be really sure when things will be done and well tested.

But what I am saying is not really privacy, but things that makes Monero easier to use, like mobile wallets, Hard wallets, multisig, ...   Things that will even usability wise Monero with all other Bitcoin copy/paste clones.    And for this I dont think we will even need to wait 6 months but much less.

Not to mention GUI will after almost a year of Beta finally get an official release.

[Dart315]

Next six months will definitely belong to Monero. Since all long awaited things will happen and Monero will become as ready for adoption as any Bitcoin clone. 
But on the other hand I could say next 2 years will belong to Monero since emission finally started drastically slow down. Monero is becoming scarce.  After hardware wallets kick in, there will be only few left on Poloniex.  Price will go $1000+

What is supposed to happen in the next six months for Monero, because I don't see anything interesting happening in the pipeline that I know of. Is something big going to happen at a technology level like a big update of sorts that could pump the price? Any improvements in privacy?

From what I have noticed from past events, the main reasons Monero, and most, pump, is because they get added in big markets (like Bithumb) which bring a lot of liquidity. In order for a coin to have a solid pump from technology upgrades, said upgrades must be something big (like segwit) and I dont see any segwit-tier improvements being made in Monero that I know off.

Monero is already most private coin of all. Next fork that will happen this month will increase that with mandatory mixing and i think also increased.  Not sure when we will see Kovri. Kovri in Monero build TOR. Sinc eis open source project you never be really sure when things will be done and well tested.

But what I am saying is not really privacy, but things that makes Monero easier to use, like mobile wallets, Hard wallets, multisig, ...   Things that will even usability wise Monero with all other Bitcoin copy/paste clones.    And for this I dont think we will even need to wait 6 months but much less.

Not to mention GUI will after almost a year of Beta finally get an official release.

Wow mandatory mixing. Price of monero surely will grow.

[Febo]

Next six months will definitely belong to Monero. Since all long awaited things will happen and Monero will become as ready for adoption as any Bitcoin clone.  
But on the other hand I could say next 2 years will belong to Monero since emission finally started drastically slow down. Monero is becoming scarce.  After hardware wallets kick in, there will be only few left on Poloniex.  Price will go $1000+

What is supposed to happen in the next six months for Monero, because I don't see anything interesting happening in the pipeline that I know of. Is something big going to happen at a technology level like a big update of sorts that could pump the price? Any improvements in privacy?

From what I have noticed from past events, the main reasons Monero, and most, pump, is because they get added in big markets (like Bithumb) which bring a lot of liquidity. In order for a coin to have a solid pump from technology upgrades, said upgrades must be something big (like segwit) and I dont see any segwit-tier improvements being made in Monero that I know off.

Monero is already most private coin of all. Next fork that will happen this month will increase that with mandatory mixing and i think also increased.  Not sure when we will see Kovri. Kovri in Monero build TOR. Sinc eis open source project you never be really sure when things will be done and well tested.

But what I am saying is not really privacy, but things that makes Monero easier to use, like mobile wallets, Hard wallets, multisig, ...   Things that will even usability wise Monero with all other Bitcoin copy/paste clones.    And for this I dont think we will even need to wait 6 months but much less.

Not to mention GUI will after almost a year of Beta finally get an official release.

Wow mandatory mixing. Price of monero surely will grow.

New release will be named Helium Hydra.

It should contain:
Only RCT transactions will be allowed
Minimum / uniform ringsize
Range proof size reduction
....

"Only RCT transactions will be allowed"  will basically be no change since 99.9% of all transactions is already RCT.

[Dart315]

Next six months will definitely belong to Monero. Since all long awaited things will happen and Monero will become as ready for adoption as any Bitcoin clone.  
But on the other hand I could say next 2 years will belong to Monero since emission finally started drastically slow down. Monero is becoming scarce.  After hardware wallets kick in, there will be only few left on Poloniex.  Price will go $1000+

What is supposed to happen in the next six months for Monero, because I don't see anything interesting happening in the pipeline that I know of. Is something big going to happen at a technology level like a big update of sorts that could pump the price? Any improvements in privacy?

From what I have noticed from past events, the main reasons Monero, and most, pump, is because they get added in big markets (like Bithumb) which bring a lot of liquidity. In order for a coin to have a solid pump from technology upgrades, said upgrades must be something big (like segwit) and I dont see any segwit-tier improvements being made in Monero that I know off.

Monero is already most private coin of all. Next fork that will happen this month will increase that with mandatory mixing and i think also increased.  Not sure when we will see Kovri. Kovri in Monero build TOR. Sinc eis open source project you never be really sure when things will be done and well tested.

But what I am saying is not really privacy, but things that makes Monero easier to use, like mobile wallets, Hard wallets, multisig, ...   Things that will even usability wise Monero with all other Bitcoin copy/paste clones.    And for this I dont think we will even need to wait 6 months but much less.

Not to mention GUI will after almost a year of Beta finally get an official release.

Wow mandatory mixing. Price of monero surely will grow.

New release will be named Helium Hydra.

It should contain:
Only RCT transactions will be allowed
Minimum / uniform ringsize
Range proof size reduction
....

"Only RCT transactions will be allowed"  will basically be no change since 99.9% of all transactions is already RCT.

Helium Hydra. Nice naming they have :-D