Monero (XMR) Speculation thread

[dreamspark]

Will the support hold?

Same situation with the last time you posted a support line, the market is far too immature.

That being said there are alot of people looking to buy in and the sell pressure isn't really increasing its just random dumps and people not bidding and letting their buy be filled. The dumpers run out of coins and we move back up. This is a very fair range to be in anyway.

I agree that the market is very erratic, but people DO look at charts (otherwise, there would be no nood for publishing the charts).
Some of theose patters are important... Self fulfilling prophecy

edit: if we go below 4 mBTC, i'll buy some more

I agree that people look at charts and TA is mostly a self fulfilling prophecy however most people at these early stages are just buying as many as they can really, there's not too much day trading going on due to the lack of real liquidity and lack of historic data, the best you can really do is ride the waves

[dnaleor]

Will the support hold?

Same situation with the last time you posted a support line, the market is far too immature.

That being said there are alot of people looking to buy in and the sell pressure isn't really increasing its just random dumps and people not bidding and letting their buy be filled. The dumpers run out of coins and we move back up. This is a very fair range to be in anyway.

I agree that the market is very erratic, but people DO look at charts (otherwise, there would be no nood for publishing the charts).
Some of theose patters are important... Self fulfilling prophecy

edit: if we go below 4 mBTC, i'll buy some more

I agree that people look at charts and TA is mostly a self fulfilling prophecy however most people at these early stages are just buying as many as they can really, there's not too much day trading going on due to the lack of real liquidity and lack of historic data, the best you can really do is ride the waves

I think that there is more daytrading than you might expect...
Tell me that this is "just coincidence":

[liexel]

What's a good time to buy XMR? Like now? Can I wait for it to dip to 0.003 ~ 0.004 or less..

[GreekBitcoin]

I am daytrading for days now to get back some XMR i lost from daytrading

What's a good time to buy XMR? Like now? Can I wait for it to dip to 0.003 ~ 0.004 or less..

I think that it will be difficult to go under 0.004 but it may happen. I dont believe it will ever reach 0.0035 again but if this happens it will be in the next like 10 days...

I would be buying anything under 0.0042 for now.

[rpietila]

Anything can happen

Even if it goes to 0.00365, the uptrend is not violated. There are lots of people who capped the rally at 0.0058 by selling coins and many of them want to buy back. Also there are new buyers willing to enter. Potentially massive buyers.

On the other hand, many current owners are so maxxed out it's not even funny. Like 1000:1 xmr:btc. There was some exuberance when it was rising and that will be quenched. The miners' selling is pressuring the price. The coin is still useless and nothing interesting is about to come from the devs in at least a month. Technically it looks horrible with lower highs. All we need is the post-top second low of 0.00408 to be broken so we will break the first low of 0.00395 also, and then dip to 0.00365 fibonacci zone and staring into the abyss.

I don't believe for a second that we dip to 0.002xx again, there are wealthy buyers to compete with each other preventing it. But 0.003xx is now very close. (I have needed to admit the facts after burning money at ~0.005.)

We are likely talking about a longish decline though, just like the last time. It will be reinforcing itself cause the speculators also gradually throw in their towels.

To change this gloomy outlook, the following must happen:
- 0.00426 to hold
- asks below 0.006 to fall below BTC100 (now: BTC227)
- sustained breakout from the double top

Fat chance

Monero is a good coin. Buy and hold long term.

[dreamspark]

Will the support hold?

Same situation with the last time you posted a support line, the market is far too immature.

That being said there are alot of people looking to buy in and the sell pressure isn't really increasing its just random dumps and people not bidding and letting their buy be filled. The dumpers run out of coins and we move back up. This is a very fair range to be in anyway.

I agree that the market is very erratic, but people DO look at charts (otherwise, there would be no nood for publishing the charts).
Some of theose patters are important... Self fulfilling prophecy

edit: if we go below 4 mBTC, i'll buy some more

I agree that people look at charts and TA is mostly a self fulfilling prophecy however most people at these early stages are just buying as many as they can really, there's not too much day trading going on due to the lack of real liquidity and lack of historic data, the best you can really do is ride the waves

I think that there is more daytrading than you might expect...
Tell me that this is "just coincidence":

Lets let the third bottom really be a bottom before we start saying things like that

All thats important in under 0.004 is a general buy zone for a lot of people.

[Okurkabinladin]

Bitcoin seems to be locked in downtrend, that could last for weeks. That could make Monero extremely attractive as a hedge.

[InwardContour]

Will the support hold?

I'm holding long term, the ones selling are called weak hands and I'm sure they will buy back at loss later 

[Skinnkavaj]

Bitcoin seems to be locked in downtrend, that could last for weeks. That could make Monero extremely attractive as a hedge.

Already seen it today. Monero holding up very good.
Wouldn't be suprise to see another run up to 0.015-0.020 in a few days.

[saddambitcoin]

I sold some in the past couple days because I was at 1000:1 ratio. Now I'm around 400:1. I'd love to buy more at 0.0035 or less.

I expect the downtrend will now continue until everyone decides it has gone far enough and immense buying will ensue. If the pattern continues, the next rally will happen around August 20th 2014.

[pikabit]

Just realized how much potential this altcoin really have.
I am buying in large sums right now.

Been buying like crazy when it was on the 20-ish lows, they called me crazy.

[pikabit]

We need Monero shirts, imma rock that this summer.

[Skinnkavaj]

Will the support hold?

So far so good.

[dillpicklechips]

I'm expecting a larger market cap once it becomes apparent that XMR is very useful right now with no changes to XMR or BTC! A lot of exchanges will trade crypto pairs without identification. If you have BTC you can sign up and trade it for XMR. Then you open another exchange account and sell the XMR for BTC. There will be nothing linking old BTC with new BTC. The trail goes cold in XMR!

[smooth]

I'm expecting a larger market cap once it becomes apparent that XMR is very useful right now with no changes to XMR or BTC! A lot of exchanges will trade crypto pairs without identification. If you have BTC you can sign up and trade it for XMR. Then you open another exchange account and sell the XMR for BTC. There will be nothing linking old BTC with new BTC. The trail goes cold in XMR!

Being able to trade other coins against XMR is itself a valuable use (speculation) for the coin that puts it ahead of just about every other coin (other than LTC and BTC of course).

What makes a coin valuable ultimately is that it is useful, and these trading pairs are an important milestone on that path for Monero.

[dillpicklechips]

I'm expecting a larger market cap once it becomes apparent that XMR is very useful right now with no changes to XMR or BTC! A lot of exchanges will trade crypto pairs without identification. If you have BTC you can sign up and trade it for XMR. Then you open another exchange account and sell the XMR for BTC. There will be nothing linking old BTC with new BTC. The trail goes cold in XMR!

Being able to trade other coins against XMR is itself a valuable use (speculation) for the coin that puts it ahead of just about every other coin (other than LTC and BTC of course).

What makes a coin valuable ultimately is that it is useful, and these trading pairs are an important milestone on that path for Monero.

Yes and I see XMR as useful right now even though it can't be spend anywhere! XMR to me is more of a plug-in then a alternative currency. XMR can be plugged into (traded) with any currency that needs privacy.

[Qsquegg]

I'm kinda curious about the effect the potential "flaw in difficulty rate" would affect the price if it turns out to be an issue? (or even true, of course) - https://bitcointalk.org/index.php?topic=709197.0

I reckon any dip would be rather short-term as there's for sure enough energy coming from the devs to deal with any kinks..

[fluffypony]

I'm kinda curious about the effect the potential "flaw in difficulty rate" would affect the price if it turns out to be an issue? (or even true, of course) - https://bitcointalk.org/index.php?topic=709197.0

I reckon any dip would be rather short-term as there's for sure enough energy coming from the devs to deal with any kinks..

Well, BCX says they are evaluating it:

I have dropped quite a bit of hashes on this over the past 24 hours.

It is showing signs of promise but I am still in evaluation mode

I'm not sure what I should expect to see on that graph over the past 24 hours.

[Wikstr80]

Hi all,

I trade cryptocurrencies and have now decided to buy XMR. I can spend 2.5 btc in total, of which I'm looking to invest a portion, so am waiting for a good moment to buy…

Here are two price charts I found (poloniex and hitbtc):

https://i.imgur.com/XAuQOzb.png?1

https://www.poloniex.com/exchange/btc_xmr


https://i.imgur.com/Psre7CS.png

https://hitbtc.com/terminal#XMRBTC

It seems that XMR is pretty stable now... maybe time to invest? I'm no professional in cryptocurrency trading and am not sure… What do you think?

Thanks in advance

[dreamspark]

Hi all,

I trade cryptocurrencies and have now decided to buy XMR. I can spend 2.5 btc in total, of which I'm looking to invest a portion, so am waiting for a good moment to buy…

Here are two price charts I found (poloniex and hitbtc):



https://www.poloniex.com/exchange/btc_xmr




https://hitbtc.com/terminal#XMRBTC

It seems that XMR is pretty stable now... maybe time to invest? I'm no professional in cryptocurrency trading and am not sure… What do you think?

Thanks in advance

Currently XMR is in its very early stages and its rare for such a project to get so much attention so quickly. Given this fact the currency is volatile and the swings can be quick a deep, that being said there is a lot of serious money invested in XMR so you know your not going to buy a shitcoin that goes down to 1% of your investment.

If you are worried about getting in at the best time then I would advocate cost averaging your way in at least over a few days if not weeks.