In the cryptic cryptocurrency market, one of the most disturbing questions is ‘which altcoin can I buy for long-term investment?’ This question is one of the reasons trading analysts and crypto market influencers spend a great deal of their time scrutinizing how the market unfolds—each passing day. This article looks into the performance of Monero (XMR) and its projection into 2019.
As of this writing, Monero (XMR) is at number 10 on CoinMarketCap. The private digital currency enables its users to be their own banks. In the past 24-hour trading volume, more than $20.7 million USD worth of XMR exchanged hands. The private cryptocurrency has a market cap of more than $1 billion USD.
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Monero market info
Monero has been in a bearish trend for nearly a year. According to some analysts, this makes it rather unsuitable for long-term investment. Walletinvestor.com, for example, suggests that Monero (XMR) currently has a negative outlook, and therefore not suitable for building a portfolio.
Trading in a bearish market is riskier, especially for beginners. It’s always important to arm yourself with optimal investment strategies in order to survive. As of this writing, Monero is valued at $60.53 on CMC. However, based on its internal features, many investors and traders still believe in Monero (XMR). For instance, Monero has value inside. Besides, XMR is one of the most private cryptocurrencies, which makes it suitable for being a store of value.
Monero (XMR) projection December 2018
According to Tradingbeasts.com, Monero (XMR) price projection at the beginning of December 2018 is at $155.63. The maximum XMR could go in December is $199.34 while the minimum is $135.55. Towards the end of December, the price of the crypto could jump to $159.47, which could go up to January 2019.
On the long term, the price of Monero (XMR) is projected to an average of $206.12, with a high of $268.35. Owing to the volatile nature of the crypto market, it’s hard to pinpoint exactly how the price of a particular asset will unfold. All the same, for those intending to invest in Monero (XMR), here are important things to know about the crypto.
What makes Monero different?
Monero (XMR) has the following qualities that make it unique:
Security
Monero embraces decentralization and that makes it a secure digital cash. All Monero-based transactions are confirmed by distributed consensus and then recorded on the blockchain, where they remain immutable. You don’t need a third party to keep your Monero safe.
Privacy
Monero is one of the most private digital networks. It utilizes ring signatures, ring confidential transactions, as well as stealth addresses. Therefore, the origin, the amount, and destination of Monero-based transactions remain secure. In the end, Monero provides all the benefits of a decentralized digital asset without any of the typical privacy dispensations.
Untraceable
Monero uses an obfuscated default that seals all sending and receiving addresses, as well as transacted amounts. Therefore, Monero (XMR) transactions cannot be linked to any particular user or real-world identity.
Fungibility
Being private by default makes Monero (XMR) fungible. In this regard, vendors or exchanges cannot blacklist units of Monero because of their association in previous transactions.
Disclaimer: This article does not constitute a direct financial or investment guide. Do your own research and consult an expert before you invest in cryptocurrency.
