[XMR] Monero Speculation

[Hueristic]

Is monero getting hardcore pumped n dumped or what. My question is why does the price fluctuate so much within a short amount of time? I'm keeping my monero for a while because the price will undergo a correction but i think near the weekend, might dump if price shoots up again

LOL, wut a stupid post.

[1714652499]

1714652499

[c789]

Is monero getting hardcore pumped n dumped or what. My question is why does the price fluctuate so much within a short amount of time? I'm keeping my monero for a while because the price will undergo a correction but i think near the weekend, might dump if price shoots up again

It's much more than the standard pump-and-dump. Darknet markets have endorsed and are using Monero. Those are people who depend on private and untraceable currency. They wouldn't have chosen Monero if it wasn't the best option - they have too much to lose. As a result, the demand for XMR spiked, and as a result of this, so did the price.

As with pretty much all cryptos, I expect the price to be volatile. However, as darknet use grows, and as more people who simply want to keep their financial information private become aware that they may do so with Monero, I expect even more demand for XMR. When you throw in the upcoming features (GUI, sig, 0MQ, Kovri I2P), those should create even more demand.

So, I expect the price to be volatile, but with an overall upward trend for quite some time.

[coinism]

Is monero getting hardcore pumped n dumped or what. My question is why does the price fluctuate so much within a short amount of time? I'm keeping my monero for a while because the price will undergo a correction but i think near the weekend, might dump if price shoots up again

LOL, wut a stupid post.

not stupid at all. a person asking for information is not stupid per se.

[Hueristic]

Is monero getting hardcore pumped n dumped or what. My question is why does the price fluctuate so much within a short amount of time? I'm keeping my monero for a while because the price will undergo a correction but i think near the weekend, might dump if price shoots up again

LOL, wut a stupid post.

not stupid at all. a person asking for information is not stupid per se.

Read the real meaning.

[hushabuba]

Is monero getting hardcore pumped n dumped or what. My question is why does the price fluctuate so much within a short amount of time? I'm keeping my monero for a while because the price will undergo a correction but i think near the weekend, might dump if price shoots up again

It's much more than the standard pump-and-dump. Darknet markets have endorsed and are using Monero. Those are people who depend on private and untraceable currency. They wouldn't have chosen Monero if it wasn't the best option - they have too much to lose. As a result, the demand for XMR spiked, and as a result of this, so did the price.

As with pretty much all cryptos, I expect the price to be volatile. However, as darknet use grows, and as more people who simply want to keep their financial information private become aware that they may do so with Monero, I expect even more demand for XMR. When you throw in the upcoming features (GUI, sig, 0MQ, Kovri I2P), those should create even more demand.

So, I expect the price to be volatile, but with an overall upward trend for quite some time.

I understand that the dark net drug markets adopting monero would increase the demand therefore increasing the price, but I was just confused on why there was some much volume and volatility a week after the announcement. I think I had read earlier in this thread that there were big whales pumping and dumping monero causing the large price jumps but just wanted to see if there were other factors as well which there clearly are. Are you guys using fib retracement levels to identify when to buy or sell or just doing so at the high's and lows of the day or just hoarding monero for an eventual spike similar to what ethereum miners are doing?

[aminorex]

As my Num.Analysis Ii prof used to say: there are no stupid questions, only stupid questioners.

Not one of my favorite people.

[aminorex]

Are you guys using fib retracement levels to identify when to buy or sell or just doing so at the high's and lows of the day or just hoarding monero for an eventual spike similar to what ethereum miners are doing?

I generally hoard, and use 5% for small-time manual market making and the occasional opportunistic speculation.

I am sure there are some margin long/short swing traders here as well.  I am too fond of my hoard to risk it that way.  And yes, fib levels are helpful.

As for the volume: lots of bots and a couple of bitcoin whales are converting to XMR, trying to get a good price.  Keep in mind that the ambition of Monero to be the dominant private fungible unlinkable untrace-able currency is well under weigh to become a manifest reality.  The appeal to HNW individuals and international funding channels seems obvious enough and DNM adoption is sufficient to raise liquidity levels to a point where those uses becone practical.  Many of the radical upside potentials which bitcoin squandered with bad governance suddenly become achievable again, in Monero.  Rationally the only logical thing to do is get as many as you can and hold them as tightly as you can.  But day-traders dunning-kruger much.

[hushabuba]

Are you guys using fib retracement levels to identify when to buy or sell or just doing so at the high's and lows of the day or just hoarding monero for an eventual spike similar to what ethereum miners are doing?

I generally hoard, and use 5% for small-time manual market making and the occasional opportunistic speculation.

I am sure there are some margin long/short swing traders here as well.  I am too fond of my hoard to risk it that way.  And yes, fib levels are helpful.

As for the volume: lots of bots and a couple of bitcoin whales are converting to XMR, trying to get a good price.  Keep in mind that the ambition of Monero to be the dominant private fungible unlinkable untrace-able currency is well under weigh to become a manifest reality.  The appeal to HNW individuals and international funding channels seems obvious enough and DNM adoption is sufficient to raise liquidity levels to a point where those uses becone practical.  Many of the radical upside potentials which bitcoin squandered with bad governance suddenly become achievable again, in Monero.  Rationally the only logical thing to do is get as many as you can and hold them as tightly as you can.  But day-traders dunning-kruger much.

sounds good, thanks for the response

[starmman]

Are you guys using fib retracement levels to identify when to buy or sell or just doing so at the high's and lows of the day or just hoarding monero for an eventual spike similar to what ethereum miners are doing?

Right now for XMR, I think the news is just as good as technical indicators - there are so many developments that affect the price, a few positive articles and things go well. I don't have enough invested for serious trading yet, but would use fib retracement levels on the buy (depending upon support levels) but would hold off on a lot of sell orders as I think the price will increase, keep a satsh back but still try in increment the investement on the range trades.

[jhon conor]

when XMR hit to 0.03BTC ?

[birr]

when XMR hit to 0.03BTC ?

Exactly 3.14159265358979323846264338327950 days from now, or about 24 x 355/113 hours

[medusa13]

oh guys its really funny, i never thought i would also buy at this kind of prices but here i am, still nibling here and there a few  
hard to get rid of old habits i guess

i try to trade the swings on leverage, liq on polo is good on both sides and market makers do a fascinating job as most of the time. bitcoin lending markets recoverd nicely after the last run up, its definetely worth watching besides the XMR lending data. leverage became a nice tool for self discipline that stops me from bagholding my trading stash too long and do more swing trading instead. sure i also could do that normally but im also lazy and like the pnl view

prices still feel unreal from time to time, but i get more used to it every day:D

good luck to everybody, ofc i also hope it goes up and we go north 0.03. long live monero!

[freedomgo]

when XMR hit to 0.03BTC ?

Exactly 3.14159265358979323846264338327950 days from now, or about 24 x 355/113 hours

I like to trade monero now because the price is so volatile and I am seeing that it is more on the upwards directly, it is like dancing now going up and I believe we can see that 0.03 btc price soon not later than this month or this week possibly, just keep buying now.

[Erik Goff]

when XMR hit to 0.03BTC ?

When BTC to hit 0.03 XMR ?

Fixed that for you 

[kurious]

Looking nicely set up for another interesting weekend.

Ladies and gentlemen:

Faites vos jeux...

Edit: Seems BTC is vying for 'belle of the ball' too...

[nanobrain]

Looking nicely set up for another interesting weekend.

Ladies and gentlemen:

Faites vos jeux...

Edit: Seems BTC is vying for 'belle of the ball' too...

Evening Kurious,

Whoa, there goes BTC...everyone piling out of everything else LOL

"Rien ne van Plus"

[smoothie]

Page 1100

Since no one else has posted about it. 

[drawingthesun]

..holding a margined long position...

Paying polo margin rates is crazy.  At least mortgage your house or something.  Sell your children, whatever.

I've been glad to do it.  Unmortgaged the house, bought the kids back out of their indenture.  All without selling a single coin from my carefully nurtured little stack.  Positively life changing.  Hooray for 0.05 - 1% daily loans and a raging bull market   

How secure are the loans on Polo? I mean it's possible to lose money on the loans isn't it?

[rpietila]

I have understood that the loans should not carry any risk over the usual platform risk. (Which historically has been very high, easily over 30% of exchanges bite the dust in a year).

[dEBRUYNE]

XMR.to has increased it's limit to 5 BTC!

https://xmr.to

https://www.reddit.com/r/Monero/comments/51qq1s/increased_the_max_amount_on_xmrto_5btc/