A currency that continues to surge in the markets despite infamy and controversies, Monero has established itself as a favourite of the dark net, as well as for those who wish to remain anonymous. The currency has been controversial because it is being mined via cryptojacking – where websites are injected with a malicious code resulting in mining for Monero using the CPU power of unsuspecting users.
Currently ranked in at #12 by market cap, Monero price has fallen by 4.56% over the past 24 hours. However, the currency still carries a lot of optimism around it, with market experts predicting that a major boom is on its way. Over the past 24 hours, Monero price fell from $291 to $275. The lowest point of the day came at $265. The graph below shows where Market analysts expect Monero price is heading towards:
A careful observation of the tradingview graph above shows that the currency is expected to gain a major momentum soon. It is being expected that Monero, by late April, would grow by over 400% and hit the $2000 mark. While this sounds quite outlandish as of now, considering that the currency has been a part of this uptrend channel for so long indicates that this growth is indeed a probability as the channel broadens.
If you look at the Monero price performance over the past week, the currency has fallen from $325 to $276, which is a significant fall. However, Monero investors are confident that a strong growth is on its way. Over the past week, Monero began at $327, peaked at $337 and then dipped to $265 before bouncing back to the $276 mark.
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Disclaimer: Neither the management nor the authors at CryptoCrimson are responsible for any losses, financial or otherwise, which may occur due to investing based on our articles. These are market predictions – which are not set in stone. The information provided is only for educational purposes and cannot be considered a financial advice.