What Is Monero?
Monero is an XMR coin, created in April 2014. It can rightly be called one of the oldest on the cryptocurrency market. Over the years, it has proven its viability many times and has firmly established itself on the top lines of the capitalization rating. Monero is a part of the “billionaires club”, being one of the 16 projects with a market capitalization of more than $1 billion.
No wonder that Monero price predictions are incredibly popular among traders and members of Monero community. ChangeNOW, a leading instant cryptocurrency exchange service, has come up with a solid Monero price prediction based on market analytics and other factors.
Initially, the XMR coin was created as a tool for conducting confidential transactions. It has a special algorithm that hides the owner of the wallet. And it copes perfectly with that. This feature provides Monero networks with a steady community as there are always people that want to hide their financial activities from prying eyes.
Monero Price Analysis
Right after Monero’s launch, at the end of 2014, the XMR price was about $1. Monero price forecasts didn’t see a possibility for any significant rise in a short time (or ever). However, in 2016 the Monero value increased to the $13 mark in one month.
Many people attributed this spike to the fact that Monero was used in drug trafficking, however, it did create publicity for Monero. However, it was what started the trading popularity of the coin. Since that time Monero future value should have only gone up.
Like all the rest of the coins on the market, Monero faced a huge downtrend in 2018. It must be noted, however, that during the periods of recovery, Monero frequently saw greater gains than other coins. It had a huge 150% growth spгке in February 2018. But the absolute record in Monero historical price was set on January 1, 2018, when Monero reached $352 mark. At the end of October 2018, Monero price reached $107.
Against the background of the collapsing market, the XMR sank by 3.3 times and it is less than that of many other assets. The following chart will show you the illustrated history of Monero’s price so you can make an educated guess for your own Monero price prediction.
Detailed results 2018 for Monero
Unlike other well-known cryptocurrencies, the beginning of 2018 for Monero coin value was not good. While Bitcoin, Ethereum, Litecoin were growing in the first days of January, Monero coin price chart went reversal. Until January 6, the dynamics were positive, and the cryptocurrency was able to grow to $458. However, already on Orthodox Christmas, Monero began to lose ground, and by January 12, the coin lost $ 100 in value, going down to $ 358.
However, XMR did not stay at the bottom, and almost immediately played back a significant part of the positions, rising to $420 by January 15. But the next day the trend turned around, and again moved down. This time the fall was already more noticeable. It stopped at $308, as close as possible to the psychological mark.
Monero Prediction Today
A new trend reversal didn’t take long to wait, and another significant jump occurred on the 21st of January. By this day, the price of the cryptocurrency has increased to $384. However, this was the last peak of Monero before serious depreciation. Further XMR coin price rushed down. The failure lasted 17 days, and the bottom of the coin reached as much as $208, falling by almost half.
However, investors did not turn away from the project, and Monero began to gradually return its positions. A week later, the price again approached $300, after which it went into a small correction, dropping to the level of $275. From 1 to 5 March there was another jump in value. To 05.03.2018, the coin grew to $370.
Further, for XMR, as for the vast majority of cryptocurrencies, dark times have come. The cryptocurrency began to depreciate. Only on March 8-9, there was a failure from $312 to $263, almost $50 in total. The fall lasted more than a month until, by April 10, XMR reached $165.
From 10 to 24 April, there was the last significant increase in the value of the cryptocurrency. It went up to $284. Starting from April 25, the trend turned around and went down again. The peak of the fall was the price of $90, reached on August 24. After that, for the last time in 2018, there was at least a little tangible increase in the price of Monero, to $140.
Further, the cost of the coin steadily moved down until the end of the year. On December 31, 2018, the Monero historical price fixed at only $48.90.
Monero Price Prediction 2019
The situation on the market during the past year has evolved according to an unpredictable and even dramatic scenario. Therefor, the Monero forecasts seemed to be useless and even harmful to those who make trading decisions with their help.
New and careful market analysis, based on historical data on technology review, shows the following results. By the end of 2019, the minimum XMR rate will be $ 42, the maximum — $ 93.36. At the same time, the general trend is fully preserved, experts still believe in a 120% growth of the coin.
According to Analysts at Aurora Blockchain Capital, in the next 10 years, Monero will maintain and increase its credibility as one of the most promising cryptocurrencies. For this long period, they predict a slow gradual increase in coin value by 38.391%. However, whether the uptrend will begin in 2019 or later is not specified.
Monero 2020 price prediction and further
Satis Group Monero coin prediction for 5 years
The well-known analytical agency Satis Group analyzed the prospects of 10 leading cryptocurrencies and issued a forecast for 5 years. Experts predict that in the next 5 years, Monero coin is expected to grow rapidly. By 2024 its value will rise to $18,000. Moreover, analysts of the agency believe that this is not the limit. By 2028 the price of the coin can reach $39 000.
Specialists of Satis Group called Monero the most undervalued asset. First of all, because of the technology of confidentiality of transactions and anonymity of holders. The agency believes that coins that can offer users something similar, will begin to appear and grow in price from 2020. It is XMR that will be the first asset that will create a “network effect” similar to that produced by Bitcoin in 2017.
The Monero project can contribute to the rise in price
Like hundreds of other cryptocurrencies, XMR, at the moment, remains trend-dependent. However, unlike other crypto assets, Monero has the ability to get out of this dependence. Analysts believe that the main factor that will affect the future Monero price is not even in the cryptocurrency itself, as in the means of payment. First of all, the success of Monero projects is important.
The cryptocurrency team is engaged in several services. They can significantly improve the quality of the payment system, provide additional protection of personal data, improve the scaling and speed of work.
First of all, we are talking about such projects as Open Alias and Kovri. If these services “shoot”, and they will use XMR, the trend will begin to move up steadily. However, work on them will is far from complete. Therefore, experts are in no hurry to issue too large advances for cryptocurrency. However, the bar ща $150 for Monero seems to be quite surmountable.
An additional plus for XMR is the improvement of mining. Recently, the popularity of Monero among miners has decreased slightly, as the profitability of production has fallen. At the same time, the cryptocurrency team is working on the creation and integration of new consensus algorithms. If their ideas are implemented, Monero price forecast can step over $200.
Cooperation with major portals and the influx of users will lead to higher prices
Monero was originally created for use in the darknet, so here a strong emphasis on anonymity is made. At the same time, official portals are ready to cooperate with Monero. In particular, in 2019, XMR became a partner of Retail Row – a well-known website for the sale of games. In particular, Retail Row distributes the popular game Fortnite.
The press reported that Monero won the competition from two other major competitors, such as Ripple and Litecoin. According to analysts, this is an unambiguous signal that XMR is really ready to work with. Thus, if the cryptocurrency continues to move in the market, and offer its services to large portals, in 2020 it can expect a significant growth. Experts predict that several large contracts can raise the cost of crypto-coins to $200 and above.
It is also worth noting that despite the fall in the capitalization of Monero, the growth of cryptocurrency users continues. Anonymity and higher speed of transactions, in comparison with Bitcoin, attract investors. If the influx of users will continue at the same pace, the mark of $150 by the end of 2020 is the minimum that Monero can count on.
However, not all analysts are optimistic about the rapid growth of Monero. Some believe that the cryptocurrency will develop, but not so rapidly, and in order to gain a foothold at the level above $100, it will take time. In particular, there is an opinion that in 2020, XMR will finish with a price of $96. At the same time, in the middle of the year, there may be jumps up to $170, according to XMR news.
Monero will take a more or less stable position at a level above $100 only by 2021, but with some failures of course. In particular, by August 2021 they forecast a decline in Monero future value to $89, which will be an anti-record from 2018. However, XMR will quickly return the lost positions. By the end of the year, it will be trading around $160-170.
Monero will be able to confidently step over the $200 mark only by 2023. And this year, its development will be very active. First of all, by this time, cryptocurrencies will have passed a serious path to world recognition.
The pace of the Monero team’s work on updates allows us to believe that by the end of 2023 the value of the crypto asset will exceed $300. And by 2025, the crypto-coin will exceed the $ 400 mark, gradually regaining its position from early 2018, according to Monero news and analytics.
Thank you for reading this Monero price prediction from ChangeNOW! Stay tuned for more guides, predictions, and interviews on our blog!