[XMR] Monero Speculation

[americanpegasus]

Also, something incredible has happened.... 
 
We have finally surpassed Dash on the CoinGecko rankings!  We are now the #6 global cryptocurrency! 
 

[RustyNoman]

I think the price is too volatile. Although it is good to use margin, but if you are in the wrong side, you can make a big loss.

[owm123]

We had the choice beween a very fast uptrend and a fast uptrend.
Market chose the former

Doesnt 70k monero buy seem suspicious? I would imagine xmr gradually going up, rather then with one massive buy. the question is if this price will hold, and if so, will it even go further.

[americanpegasus]

Doesnt 70k monero buy seem suspicious? I would imagine xmr gradually going up, rather then with one massive buy. the question is if this price will hold, and if so, will it even go further.

First of all, yes.  
  
But when a currency moves, it usually doesn't do so gradually.  Bitcoin rarely made new ground gradually, and neither do most cutting edge tech-stocks.  They have violent upward movements that eventually smooth out into new price bases.  
  
Why?  Well, usually its fueled by new interest in the asset, and new money flowing in.  Consider there are many reasons why XMR could be exploding upward right now, all of them legitimate.  Perhaps the first few speculators in China have even caught wind of Monero.... now that could get real scary, real quick.

[RustyNoman]

We had the choice beween a very fast uptrend and a fast uptrend.
Market chose the former

Doesnt 70k monero buy seem suspicious? I would imagine xmr gradually going up, rather then with one massive buy. the question is if this price will hold, and if so, will it even go further.

The Monero was quite for some time. Maybe the whales were accumulating at that time. They have got enough now. So it is time to pump.

[rpietila]

For XMR price to reach $X, it will have to reach every price <$X at least once during the ascent. Let's enjoy the ride and if someone has too many, distribute them to the ones who don't.

[americanpegasus]

For XMR price to reach $X, it will have to reach every price <$X at least once during the ascent. Let's enjoy the ride and if someone has too many, distribute them to the ones who don't.

This is an important concept that many people don't realize in many aspects of life.  For example, take fitness.  If you are out of shape, and decide to get *in-shape*, consider that it not only won't be an overnight deal.  You will slowly pass through every shape in-between your current flabby self and the final chiseled and gorgeous new-you.  
  
And risto is dead-on:  If you honestly believe that Monero will one day be $2000 each (even if it takes us to 2020 to get there), then it will have to hit all new highs at every price between this one and that... sometimes even rapidly.  There will come a day quite soon when Monero will hold steady at $2 each and we will marvel.  Then we will be shocked when it crests $10 and we imagine that surely it will drop back down (just as they did with the original Bitcoin).  Then it will cross $50, $100, and even $500.  
  
Every single price level seems impossible, until it's reality.  6 months ago, we had $200 bitcoins and 35 cent Monero.  If I had told you that by Valentine's Day of '16 we'd have $400 bitcoins (actually down from a higher high) and Monero flirting with the dollar mark, you might not have believed me.  But that's our reality now.  
  
So too will $900 bitcoins and $7 Moneros one day be our reality. (possibly sooner than we expect).

[rangedriver]

For XMR price to reach $X, it will have to reach every price <$X at least once during the ascent.

Every single price level seems impossible, until it's reality.

Some great nuggets of wisdom coming out today.

[iCEBREAKER]

when a currency moves, it usually doesn't do so gradually.  Bitcoin rarely made new ground gradually, and neither do most cutting edge tech-stocks.  They have violent upward movements that eventually smooth out into new price bases.  
  
Why?  Well, usually its fueled by new interest in the asset, and new money flowing in.  Consider there are many reasons why XMR could be exploding upward right now, all of them legitimate.  Perhaps the first few speculators in China have even caught wind of Monero.... now that could get real scary, real quick.

Good analysis.  We may be seeing the translation projects beginning to reach their intended audience.

http://zh.shapeshift.io/

The Chinese have a saying. 上有政策，下有对策

Translation: There is a policy at the top, there are counter-measures at the bottom of getting around those policies.


Monero is catching on, I'm telling ya!

[Koamder]

For XMR price to reach $X, it will have to reach every price <$X at least once during the ascent. Let's enjoy the ride and if someone has too many, distribute them to the ones who don't.

Maybe the quick rise will prompt the big holder to sell some of their coins. But if they are the big holders, they will believe in Mnoero, so they will keep the coins.

[Bagatell]

But if they are the big holders, they will believe in Mnoero, so they will keep the coins.

If they are merely traders rather than true believers they will take profits and BTFD. Some see this as pumping and dumping but without this the coins don't get redistributed.

[iCEBREAKER]

Pre-2016 top two daily volume highs were both 1012 BTC/day.

2016 has already seen 2500 BTC in volume in a single day.

 
 

[dEBRUYNE]

Doesnt 70k monero buy seem suspicious? I would imagine xmr gradually going up, rather then with one massive buy. the question is if this price will hold, and if so, will it even go further.

Wasn't 70k at once, the 1 minute candle shows approximately 46k. That 46k may consists of multiple buys that minute. The slippage is fairly low, so if someone wanted to acquire a large position quickly that would've make sense. Here is the 1 minute chart of last night:

[bitebits]

I have a present for you, Monero fans.  

Awesome, thanks. Monero's first GUI

[sadasa]

Pre-2016 top two daily volume highs were both 1012 BTC/day.

2016 has already seen 2500 BTC in volume in a single day.

 
 

I do not understand why there are so many bitcoins around. The volume in Ethereum was over 40,000 a few days ago.

[Febo]

Is the market trying to put a price tag on the coins, or is it mostly about getting profit from creating volatility?

Or is it this?

https://youtu.be/AqZ2TgrcD-E?t=1m

I think there are more reasons. But one of them for sure is this:

Every single price level seems impossible, until it's reality.  6 months ago, we had $200 bitcoins and 35 cent Monero.  If I had told you that by Valentine's Day of '16 we'd have $400 bitcoins (actually down from a higher high) and Monero flirting with the dollar mark, you might not have believed me.  But that's our reality now.  
  
So too will $900 bitcoins and $7 Moneros one day be our reality. (possibly sooner than we expect).

That sounds so pessimistic to me.  Almost 2 years ago i was 99% sure that Monero will surpass $10 in second half of 2015. It seems some more time had to pass. But beside timeline, i was never sceptical of it. It wil go much higher then that.

[papa_lazzarou]

Doesnt 70k monero buy seem suspicious? I would imagine xmr gradually going up, rather then with one massive buy. the question is if this price will hold, and if so, will it even go further.

It was probably Warz wanting to get back in...

[binaryFate]

Given the current volume these days, 70k (~140 BTC) is really not that much. Very often the order book is such that buying this amount is very acceptable in terms of slippage.

[GTO911]

23 seems to be a real struggle

[iCEBREAKER]

23 seems to be a real struggle #R3KT

fixed it!