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Monero In The Market: Recap and Forecast 12/19/2020

By gmoney777 | MoneroNews | 19 Dec 2020


What a week for cryptocurrencies as Bitcoin (BTC) passed 20k, 21k, and 22k like butter. But, what does this mean for Monero (XMR)?

Monero has increased over 227% on the year, over 28% this past month, and over 7% in the past week. Monero has been experienced some volatility in the past week trading between $142.4 and $163.96, and currently sits at $155.81. Additional upward momentum from Bitcoin is always helpful, but expect Monero to maintain its own upward trend. In particular, with the recent troubling announcement from the US Treasury, maintaining privacy has now been pushed to the forefront of the crypto conversation. With Monero, the ability to transact anonymously and securely will likely drive demand. However, I would caution that expectations could be muted, as significant amounts of capital are flowing into Bitcoin and Ethereum currently. I expect Monero to maintain positive momentum, but likely finishing the next week between $160-165 is reasonable. 

Prediction: 3-5% gains (finish above $160) on the week. 

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gmoney777
gmoney777

I put it all in dog money


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