As you probably got from the title, I’m expecting Monero (XMR) to have a bull run some time during the (sort of) near future. But I won’t get ahead of myself, if you are new to crypto or XMR then let me explain what Monero is before I explain why I think it will pump.
What is Monero? Monero is a private cryptocurrency.
You see, unlike Bitcoin which has a public ledger, with Monero only you can see your balance and who you have sent to in the past. Sound like something that would attract the wrong people? While that is true, there are plenty of more legitimate reasons to want the privacy that XMR offers; especially as the value and adoption of crypto rises. You can read more about it on getmonero.com.
Is there a risk that it fades instead of pumping? I doubt it.
In the recent months we have seen older, more established coins getting bumped down from the top ten and replaced by newer coins we hardly knew anything about. Now don’t get me wrong, older coins can fade away, especially when they don’t offer too much in terms of revolutionary or unique technology; however, Monero is the anonymous coin.
It has been adopted and heavily used by privacy advocates, dark net markets, and those who don’t want their crypto wealth to be publicly known. That is something that is not replaceable in the short term. While it has lost value recently, because of the necessity of it in the crypto community (and the fact that the recently pumped coins will probably drop just as fast as they came in) makes Monero the perfect candidate for the next large pump.
Monero really looks like it is going to pump (at least to me anyway). However, unlike a lot of coins I expect Monero to hold a lot of it’s value after the pump; so you may want to consider staying in for the long run here. Of course I could be wrong, so be sure to do your own research and place your bets carefully.
Image Credit: coinmarketcap.com & getmonero.com respectivly.
Update: The original date of this post is 5/31/17 and Monero was @ $156.54.