Will Monero reach $500 soon?

[Abiky]

At the time of this writing, Monero is worth $326.62. It's not as popular as Bitcoin or Ethereum, but at least it has a strong community. For being a privacy coin, I'm surprised it has gone this far. Suppose the crypto market continues on a bullish trend, do you think Monero will reach at least $500 per coin? It's not a far stretch, considering that Monero had an ATH of ~$517 a few years ago. While backlash against Monero continues (it's a privacy coin, after all), demand is still going strong.

Thoughts? Your input would be greatly appreciated. Thank you.

[Charles-Tim]

I do not know when but I know that monero will still get to all-time high. It may not be this year or it may be this year. The coin has utility which is privacy and which is what that is helping the coin price to move higher.

On 26th May of this year, it got to $421 which is the highest price this year but it fell at the time which cooled the uptrend down. But maybe it can still go above it and get to all-time high.

[Dunamisx]

This is a question one may not be able to give the right answer to because it it is not easy to predict for an outcome of a coin in performance, anything can happen, it may be as exactly as we wanted and in other cases, performs below the usual expectations, since we are not in the alts season, things might be the same way or not, while most expectations in this manner were channeled towards the altcoins season.

[Odusko]

At the time of this writing, Monero is worth $326.62. It's not as popular as Bitcoin or Ethereum, but at least it has a strong community. For being a privacy coin, I'm surprised it has gone this far. Suppose the crypto market continues on a bullish trend, do you think Monero will reach at least $500 per coin? It's not a far stretch, considering that Monero had an ATH of ~$517 a few years ago. While backlash against Monero continues (it's a privacy coin, after all), demand is still going strong.

Thoughts? Your input would be greatly appreciated. Thank you.

You did not include a time frame to your questions, and I assume that you meant that monero the reach the $500 benchmark ever and the answer is definitely yes, monero is a popular privacy coin and at that it community will rely around the project to make sure it comes out differently as it designed to be, this is why we have to say that possibility of even getting up to $1,000 to n the next few years or even months to s there so for that reason I will say yes monero will get to $500 and even More.

[Abiky]

I do not know when but I know that monero will still get to all-time high. It may not be this year or it may be this year. The coin has utility which is privacy and which is what that is helping the coin price to move higher.

On 26th May of this year, it got to $421 which is the highest price this year but it fell at the time which cooled the uptrend down. But maybe it can still go above it and get to all-time high.

I wasn't aware of Monero reaching almost $430 per coin. That's good news to me. If it went that far, it can easily reach a new ATH. It's not a matter of "IF", but rather "WHEN". Assuming demand for privacy coins stays high, $500 per XMR would be feasible in the short-term. Let's just hope no other CEXs de-list Monero, to keep the ball rolling.

I believe that demand for privacy coins will soar once CBDCs (or stablecoins) take over the world by storm. Especially after the phasing out of cash (coins and paper money). For a coin with no hard cap in supply (sort of), Monero has performed well compared to the rest of the pack. I wouldn't expect to get "rich" with it, but at least it will serve as a viable alternative to Fiat. Only time will tell how for will XMR go.

[passwordnow]

We'd say possible if the only timeframe is before this bull run ends. While this is the best privacy coin ever, this makes it as a slow in price increase because of the taking down of the government of it from the exchanges. That's giving fear to the people who wants to have it as an asset and hold it for longer term. But despite that, the community is no doubt stronger than ever. People are having now more idea that they need to value privacy and anonymity and this is why it remains strong and being used for the actual usage and utility of it.

[Slow death]

At the time of this writing, Monero is worth $326.62. It's not as popular as Bitcoin or Ethereum, but at least it has a strong community. For being a privacy coin, I'm surprised it has gone this far. Suppose the crypto market continues on a bullish trend, do you think Monero will reach at least $500 per coin? It's not a far stretch, considering that Monero had an ATH of ~$517 a few years ago. While backlash against Monero continues (it's a privacy coin, after all), demand is still going strong.

Thoughts? Your input would be greatly appreciated. Thank you.

as long as the price of bitcoin continues to rise, then the price of this alt will also continue to rise, see:



https://coinmarketcap.com/currencies/monero/xmr/btc/

Since the price reached 0.033 BTC in March 2018, it has never been able to reach that price again. Each year the price has been falling. So when you see this price of $326, it's not because the altcoin is being highly valued. In fact, it's stagnant, without major increases. But since the price of Bitcoin is rising a lot, altcoins in relation to the dollar are also rising. So, for the price of this altcoin to reach $500, it depends on the price of Bitcoin reaching $200,000.

Now looking at the current price of Bitcoin, which is at $123,000 and we are at the beginning of October, even if we assumed that the price of Bitcoin would increase by $20,000 each month, it would be unlikely that the price would touch $200,000 this year. By this I mean that in my opinion I think that the price of this altcoin could reach $500 next year if the price of Bitcoin manages to reach $200,000 next year.

[szaksy]

Monero has problem with Qubic currently and I hope Monero will win that.