[XMR] Monero Speculation

[adolf512]

Avaraged under 0.0129 now, i should be sleeping now but i woke up for some reason. Tnx for the cheap xmr, they will go up above 0.013 eventually. It's a shame i didn't sell for 0.0142 earlier(i almost did) but i had already sold almost half and decided to switch to the bagholder strategy.

Edit: now my avarage is 0.01265 (bough another 40 xmr).

[1715395287]

1715395287

[1715395287]

1715395287

[1715395287]

1715395287

[1715395287]

1715395287

[aerbax]

Long term price will rebound but it is likely you will see .01 first. When there was good news and excitement about Monero why did the developers not take advantage of momentum and make releasing an official GUI wallet the top priority?

Because the devs weren't working on a GUI?  We have a few other people working on them, though.

The only stability that I've found in Monero is the technology.  Everything other thing in the Monero-verse is bananapants all the time.  

[saddambitcoin]

Long term price will rebound but it is likely you will see .01 first. When there was good news and excitement about Monero why did the developers not take advantage of momentum and make releasing an official GUI wallet the top priority?

Catering to popular demand at the expense of quality is not a priority of Monero devs, and this is what differentiates Monero from the rest. GUI has been steadily in progress as well as other more important features like RingCT. It will come when it is ready.

GUI would not have done anything for the price, this is normal market behavior after breaching new territory. When BTC went from $2->32 and $10->266 and $100->1150 did it just stay there?

Monero broke a long term resistance and reached new ATH, now we find where the new bottom is. But it will take time, months likely.

[mfqrs3]

Xmr shorters heaven

[nanobrain]

Red everywhere...no bounce, no support.

[Caladonian]

Long term price will rebound but it is likely you will see .01 first. When there was good news and excitement about Monero why did the developers not take advantage of momentum and make releasing an official GUI wallet the top priority?

Catering to popular demand at the expense of quality is not a priority of Monero devs, and this is what differentiates Monero from the rest. GUI has been steadily in progress as well as other more important features like RingCT. It will come when it is ready.

GUI would not have done anything for the price, this is normal market behavior after breaching new territory. When BTC went from $2->32 and $10->266 and $100->1150 did it just stay there?

Monero broke a long term resistance and reached new ATH, now we find where the new bottom is. But it will take time, months likely.

just needed to take some room for another rise its fro sure waiting is the only way now and holding will benefits us a lots for sure.

[Anon136]

Red everywhere...no bounce, no support.

If we dont find support at 0.01 there is no justice in the world.

[sidhujag]

Red everywhere...no bounce, no support.

If we dont find support at 0.01 there is no justice in the world.

Its headed to target

[nanobrain]

Red everywhere...no bounce, no support.

If we dont find support at 0.01 there is no justice in the world.

Well, there is no justice in the world...I think we all know that

I was expecting a correction but this is, as you said, brutal.  And I think there are two ways of looking at it: there is someone/group manipulating the market not to accumulate coins but to short XMR back whence it came; or the market is rejecting the idea of it as a viable coin.  I think its the latter.

[Johnny Mnemonic]

or the market is rejecting the idea of it as a viable coin.  I think its the latter.

"Viable" in terms of what? Trading profitability? Usability as a store of value or medium of exchange?

Please explain, because it otherwise just seems like you're talking your book.

My opinion is that, despite what many speculators pretend to think, markets have no such authority to make assertions on "viability."

[Anon136]

or the market is rejecting the idea of it as a viable coin.  I think its the latter.

It shouldn't be this. It's an amazing technology that the world needs. There was reason to expect it to languish in obscurity if it never gained any traction. But now people know about it. Enough that it should be able to get the ball rolling. This level of correction doesn't fit into my model. Of course this just means something about my model is broken. But I'm pretty sure its not that monero is not a viable platform. I wonder what I got wrong.

[adolf512]

Just hold now and you will be fine. If you have balls you buy now, it can continue down(impossible to know) but long term you can expect gain. I guess even the bagholders from 0.026 will end up making a profit

[Anon136]

Just hold now and you will be fine. If you have balls you buy now, it can continue down(impossible to know) but long term you can expect gain. I guess even the bagholders from 0.026 will end up making a profit

Oh I have the balls. Now if I just had any money left.

[TheKoolaider]

Oasis DNM has been silent for 2+ days now.  No support tickets are being answered and people are speculating an exit scam.  Others say that it may be down for routine maintenance.  Pick your poison.

Just the speculation of Oasis being offline for a few days, and the market goes down.  If it comes back up, then the price may rise and even out.  If they decide to stay quiet, then the price will fall until people are ready to talk about the GUI wallet.

That being said, there is already a new DNM that is Monero only.  https://www.reddit.com/r/Monero/comments/557ilm/moneromarket_xmr_only_dnm/

Who knows if this is Oasis secretly renaming themselves to support Monero?  If it is them, it's a fantastic idea being able to buy cheap Monero and then slowly gaining more, then dumping over time.

I'm new to trading so take my info with a grain of salt, but speculation about what is going on isn't hard.  It's easy to find info about this coin.

[adolf512]

The drop was cased by fear mostly, i am confortable holding at this level in any case. We have observed the same thing with many other coins, up 5...20 times and down 50% once the hype is over.

[tifozi]

Well if it helps, no one in this thread has been right about anything, isn't that the point of it all?  

Except RangeDriver, of course.

Nope

Agreed. Although much like the old 0.001, I think it's unlikely we'll ever see it. My guess is we'll spend the next x amount of months drifting between 0.0125 and 0.018.

I don't really see us going below 0.012.

I think XMR trading is the easiest and most predictable of all coins though. Bears have won every single war and battle in its entire history. Be the first to dump after any given rise and you will come out ahead. Just don't let anyone dump 200k XMR first. And most importantly if someone posts a chart here as to where it is headed, dump before others dump on you   because that is exactly what the herd will do.

[phishead]

Oasis DNM has been silent for 2+ days now.  No support tickets are being answered and people are speculating an exit scam.  Others say that it may be down for routine maintenance.  Pick your poison.

Just the speculation of Oasis being offline for a few days, and the market goes down.  If it comes back up, then the price may rise and even out.  If they decide to stay quiet, then the price will fall until people are ready to talk about the GUI wallet.

That being said, there is already a new DNM that is Monero only.  https://www.reddit.com/r/Monero/comments/557ilm/moneromarket_xmr_only_dnm/

Who knows if this is Oasis secretly renaming themselves to support Monero?  If it is them, it's a fantastic idea being able to buy cheap Monero and then slowly gaining more, then dumping over time.

I'm new to trading so take my info with a grain of salt, but speculation about what is going on isn't hard.  It's easy to find info about this coin.

Well, while I can see the reasoning for a slight scare in the market due to something like this happening; doesn't really make much sense because 1) it's not the most popular DNM, Alphabay is... and 2) Alphabay accepts Monero as well.

I can't really attest to how much the average volume is being used for purchases on a daily basis, but still...

[Anon136]

Be the first to dump after any given rise and you will come out ahead.

This strategy wouldnt have worked for the first two big rises. You would have sold at 0.0075 only to watch it go to 0.025. There were no significant corrections anywhere on the way up.

[tifozi]

Be the first to dump after any given rise and you will come out ahead.

This strategy wouldnt have worked for the first two big rises. You would have sold at 0.0075 only to watch it go to 0.025. There were no significant corrections anywhere on the way up.

The move to .0075 was quick and didn't last very long and most had realized that it was not a sell zone and those who did were distributing from a larger personal stash *and* they still came out ahead. It wasn't exactly like they were losing.

The bigger picture is that during the next rise due to GUI etc, it will be a much tougher task for the pumpers as there will be a lot of roadblocks and heavy selling and 0.03 will never be achieved. You never know when a 200K just starts making his move. I have not traded much at all but I see the advantage of dumping...

[nanobrain]

or the market is rejecting the idea of it as a viable coin.  I think its the latter.

It shouldn't be this. It's an amazing technology that the world needs. There was reason to expect it to languish in obscurity if it never gained any traction. But now people know about it. Enough that it should be able to get the ball rolling. This level of correction doesn't fit into my model. Of course this just means something about my model is broken. But I'm pretty sure its not that monero is not a viable platform. I wonder what I got wrong.

How many other items of great technology have been cast aside for inferior 'models' that have better marketing/luck/providence etc (betamax, i'm looking at you). 

Whether the 'world needs it'; I'm unsure the world needs crypto full stop...its simply another concept of ownership and any enlightened future would surely embrace a vision of collective ownership and responsibility.  Money begets greed begets most of the evil in the world.  But anyhows...