[XMR] Monero Speculation

[tokeweed]

Daily RSI getting a little overheated.

I don’t read it that way.  It could also mean that momentum is high on XMR’s side imho.  I mean look, XMR/BTC just bottomed out and is just starting to trend up.  Do you actually think it’s time to sell and switch to BTC?  Hell no.  If you’re holding BTC, it’s time to buy XMR.

Lord no.  All I am saying is we have gone parabolic and the daily RSI is entering overbought territory.  Not only am I not selling, but I also think (as I sort of said) it could go further still before correcting.  

But from a technical standpoint we are getting a little overbought.  I don't know what happens to RSI when you keep going.  Does it correct down, or just get slammed into the top?  I am not a technical wiz, nor am I a trader, but I have noticed that RSI over 70 frequently precedes a correction.

But then again if you look at the price in BTC, it’s still near the bottom.  I think RSI is more applicable for XMR/USD than XMR/BTC in this instance.  So if you’re holding BTC right now, buy the alt that’s currently outperforming it.

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[cAPSLOCK]

Finally there is some movement in this thread 

Yeah , and finally It's time to smile for me now as after years of waiting Now there is really a good movement .

Anyway for another positive thoughts.

Would Monero(XRM) Will break the ATH from 2018? those currencies from top 20 are already broken their All Time High so what about this rank 23? any chance of Pumping high soon?

Absolutely.  The more bullish among us believe that is imminent.  I am leaning that way.

The best part is Monero has fundamentals that are much stronger than nearly ALL the other crypto assets.  Almost everything else is mostly speculative.  I think Michael Saylor called other crypto assets the equivalent of VC projects while Bitcoin is a proven project with a real track record, and a solid use case.  And I think he is onto something.  Even Ethereum is still mostly hunting around for a real use.  The NFT craze is yet another example of people building something that serves almost no purpose (although the concept will be useful going forward in the digital asset realm, and most likely will be running on Bitcoin side chains).

But AGAIN, Monero is unique.  It does something Bitcoin can never do (and arguably should not do) and is IN USE. 

What are people using Doge for?  Litecoin?  Even ETH and the myriad clones/upgrades? 

Speculation.  Almost entirely.  I think some of the older alts ARE being used transactinally somewhat.  But Thiers' law (good money drives out bad) seems to be in full effect for "crypto".  In Africa where Bitcoin is being used transacationally I am understanding people are using custodial 2nd layers to transact in BITCOIN rather than alts.  Even though it is cheaper to transact in DASH, you do not want to store value there when BTC is proving to be the better store.  So moving into and out of Dash will become too much trouble when you can just use a 2nd layer system to send BTC back in forth.

Unfortunately the above is true for monero just as much.

EXCEPT!!!  Monero has a use case that makes it WORTH the friction of buying it, and the risk of holding at least a little.  It is one of the ONLY alts that actually does.

I wish we could determine how much of Monero's transaction volume is is commerce rather than speculation... but Monero makes figuring that out kinda hard.

A long answer to a simple question.

Here's the short answer:  Monero will most certainly break it's 2018 ATH.  Most likely sooner rather than later.  Eventually it will set a new one somewhere between the old one and an order of magnitude higher.

One other thought.  This is all related to the reason I am so bullish about atomic swaps.  There is a REAL NEED for people to be able to switch back and forth between XMR <=> BTC.  And once that becomes frictionless it will happen a LOT since people have a reason to want to trade in Monero (unlike something like DOGE). 

What do you think that will do to the demand and price?

[Febo]

Seems we have the dip right now.

In general. Monero is only trying to return where it was. Its price have to double to get back in top10 on CMC if all other coins stop moving. Bitcoin reach 2017 ATH 5 months ago, ETH reach it 3 months ago, Doge 4 months ago. Monero still had not. For Monero right now to go back in top10 in CMC price need to double. Then the play field will even.

[Hueristic]

CEO of a top bitcoin exchange warns a crackdown on cryptocurrencies may be coming

Kraken’s CEO said he feels the U.S. is more “shortsighted” than other nations and “susceptible” to the pressures of incumbent legacy businesses — in other words, the banks — that “stand to lose from crypto becoming a big deal.”

https://www.cnbc.com/2021/04/12/bitcoin-kraken-ceo-jesse-powell-warns-of-cryptocurrency-crackdown.html

[macson]

Seems we have the dip right now.

In general. Monero is only trying to return where it was. Its price have to double to get back in top10 on CMC if all other coins stop moving. Bitcoin reach 2017 ATH 5 months ago, ETH reach it 3 months ago, Doge 4 months ago. Monero still had not. For Monero right now to go back in top10 in CMC price need to double. Then the play field will even.

i like dip....more dip = more XMR i will buy "lol"
ATH is something that is certainly difficult to predict but it will definitely happen to XMR, don't despair to wait.

CEO of a top bitcoin exchange warns a crackdown on cryptocurrencies may be coming

Kraken’s CEO said he feels the U.S. is more “shortsighted” than other nations and “susceptible” to the pressures of incumbent legacy businesses — in other words, the banks — that “stand to lose from crypto becoming a big deal.”

https://www.cnbc.com/2021/04/12/bitcoin-kraken-ceo-jesse-powell-warns-of-cryptocurrency-crackdown.html

This is something that of course we all have to prepare.  cryptocurrency is a big threat to the Bank's business, they will not just give up the profits they have felt for decades.  If this happens and we are able to get past this, then the mass adoption of cryptocurrencies will be inevitable again.

[cAPSLOCK]

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[cAPSLOCK]

CEO of a top bitcoin exchange warns a crackdown on cryptocurrencies may be coming

Kraken’s CEO said he feels the U.S. is more “shortsighted” than other nations and “susceptible” to the pressures of incumbent legacy businesses — in other words, the banks — that “stand to lose from crypto becoming a big deal.”

https://www.cnbc.com/2021/04/12/bitcoin-kraken-ceo-jesse-powell-warns-of-cryptocurrency-crackdown.html

Dang.  I do not like this very much.   I wonder if he's just trying to piss on coinbase's parade a little?  This is particularly ominous for Monero, sadly...

[phishead]

CEO of a top bitcoin exchange warns a crackdown on cryptocurrencies may be coming

Kraken’s CEO said he feels the U.S. is more “shortsighted” than other nations and “susceptible” to the pressures of incumbent legacy businesses — in other words, the banks — that “stand to lose from crypto becoming a big deal.”

https://www.cnbc.com/2021/04/12/bitcoin-kraken-ceo-jesse-powell-warns-of-cryptocurrency-crackdown.html

Dang.  I do not like this very much.   I wonder if he's just trying to piss on coinbase's parade a little?  This is particularly ominous for Monero, sadly...

lol nah...

I mean if people are able to still transact and exchange xmr for goods and services/donations; then xmr'ers in the states are still

#winning. :p

[cAPSLOCK]

CEO of a top bitcoin exchange warns a crackdown on cryptocurrencies may be coming

Kraken’s CEO said he feels the U.S. is more “shortsighted” than other nations and “susceptible” to the pressures of incumbent legacy businesses — in other words, the banks — that “stand to lose from crypto becoming a big deal.”

https://www.cnbc.com/2021/04/12/bitcoin-kraken-ceo-jesse-powell-warns-of-cryptocurrency-crackdown.html

Dang.  I do not like this very much.   I wonder if he's just trying to piss on coinbase's parade a little?  This is particularly ominous for Monero, sadly...

lol nah...

I mean if people are able to still transact and exchange xmr for goods and services/donations; then xmr'ers in the states are still

#winning. :p

Agreed for the most part.  But I do think Monero is particularly susceptible to any negative moves in the name of "crime/terrorism/money laundering".

But it will do the same sort of thing that happened when the Romans and Jews tried to get rid of Jesus, or in the words of ObiWan: “If you strike me down, I shall become more powerful than you can possibly imagine.”  Moves against Monero will in the end simply legitimize it.  But at the same time if it becomes illegal to buy sell or hold in someone's country, then that's not going to help the folks who are NOT using it for any sorts of crime (like me).

I think the fact is Monero stands a serious risk in this area.  It is good for those of us here to realize that...  I hope this is not the case. 

[cAPSLOCK]

As we are cooling down (and bitcoin is rocking) I see two places of support...  That RSI is coming down.  I suppose this will be most influenced by bitcoins action.  But I also see many alts are moving WITH BTC while XMR does it's own thing... makes some sense as XMR moved prior to the bitcoin new ATH.

[greenslope]

So if I understand well... XMR isn't pumped like XRP because :

it has privacy features.
it's decentralized.
everyone can mine it.
and wasn't instamined.
coins are fungibles.

[phishead]

Agreed for the most part.  But I do think Monero is particularly susceptible to any negative moves in the name of "crime/terrorism/money laundering".

But it will do the same sort of thing that happened when the Romans and Jews tried to get rid of Jesus, or in the words of ObiWan: “If you strike me down, I shall become more powerful than you can possibly imagine.”  Moves against Monero will in the end simply legitimize it.  But at the same time if it becomes illegal to buy sell or hold in someone's country, then that's not going to help the folks who are NOT using it for any sorts of crime (like me).

I think the fact is Monero stands a serious risk in this area.  It is good for those of us here to realize that...  I hope this is not the case. 

The beauty of Monero (and crypto in general) is that it "takes up" practically no physical space.  You can tape a piece of paper to your taint and smuggle money across boarders to do whatever business you want to...  There's no practical way of going across boarders with dollars or gold.

Humanity thrives in secrecy. Take the 'Underground Railroad' as an example.  XMR is/will be the Underground Railroad to help free people like Ross Ulbricht and Assange; and in turn finally hold the flame to those in power to answer our questions of why so much corruption goes unquestioned for years.

[Hueristic]

So if I understand well... XMR isn't pumped like XRP because :

it has privacy features.
it's decentralized.
everyone can mine it.
and wasn't instamined.
coins are fungibles.

Yeah, pretty much can't be compared to a centralized shitcoin.

Its only comparison is bitcoin and unless bitcoin becomes fungible its not even comparable to that.

[Globb0]

XMR dollar value chart (daily candles).....

[greenslope]

Its only comparison is bitcoin and unless bitcoin becomes fungible its not even comparable to that.

BTC "sanction list" are growing... I guess some still rich in fiat interests try to trap us inside this xrp "community", I guess for our own good .

[Hueristic]

Its only comparison is bitcoin and unless bitcoin becomes fungible its not even comparable to that.

BTC "sanction list" are growing... I guess some still rich in fiat interests try to trap us inside this xrp "community", I guess for our own good .

I have no clue what is going on with that shitcoin you keep bringing up.

[cAPSLOCK]

Its only comparison is bitcoin and unless bitcoin becomes fungible its not even comparable to that.

BTC "sanction list" are growing... I guess some still rich in fiat interests try to trap us inside this xrp "community", I guess for our own good .

I have no clue what is going on with that shitcoin you keep bringing up.

Maybe when he realizes his mistake...  lol. 

[Febo]

MegaBull is obviously happening on 13th December.  Bottom of next cycle at $1500.

https://www.tradingview.com/chart/XMRUSDT/CQnl1P7Y-The-Monero-XMRUSD-Road-Towards-the-Megabull-Up-to-3-000-Gains/

[phishead]

XMR dollar value chart (daily candles).....

*snip*

Man, some wall st. junkies got fucking hammered/wired on blow and went all in on xmr for NYE in 2020, eh? lolol, just noticed this.

[Globb0]

XMR dollar value chart (daily candles).....

*snip*

Man, some wall st. junkies got fucking hammered/wired on blow and went all in on xmr for NYE in 2020, eh? lolol, just noticed this.

Looks like a good bet they over 10x already