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Originally released on April 18, 2014, Monero (XMR) is an open-source token that focuses on privacy and has even been called the only 100% anonymous cryptocurrency.
The Monero blockchain has three features in particular which are designed to ensure private transactions. For example, it uses what are known as ring signatures, which allow for a senders identity to be obstructed by other transaction outputs. The chain also offers what are known as stealth addresses, which as the name suggests, serve to hide the address of the person receiving XMR. Lastly, there is a feature known as RingCT which can keep the amount of a transaction private.
In essence the identity of the sender, the recipient, and the transaction amount can all be hidden when using Monero.
As far as the price goes, XMR reached its all-time-high last December when a single token traded for around $466 (USD). At press time, the popular altcoin can be purchased for roughly $312 and is the number 9 ranked cryptocurrency in terms of market share.
While Monero is down a bit since the end of last year, there are still some folks who believe the best is yet to come for this ultra-private crypto. So, here are three Monero price predictions for 2018 and the future!
Note: This article is not intended to be investment advice. Readers are strongly encouraged to do their own research before investing in any cryptocurrency.
Gaurav S. Iyer
Guarav Iyer is a research analyst for Lombardi Financial. He also happens to be an author for the website Profit Confidential. In an article published November 2017, the analyst made his price prediction for XRM in the year 2018.
Iyer points out that Monero is virtually untraceable, it lacks block size limits, and is resistant to be being hacked. He believes these are just a few of the features that make it special.
In his own words,
“While Monero is not dominated by deflationary forces, rising demand for this currency promises significant gains. A “privacy premium” could further compound these gains, leading the XMR price as high as $400.00 in 2018.”
The price of XRM would go on to temporarily exceed the $400 mark shortly after his prediction was published. That being said, with currently trading in the low $300’s, it’s quite possible that 2018 could end with Monero’s price hovering around Iyer’s predicted number.
Young is the founder of the digital currency data site Spreadstreet.io, and he published a Medium article last January that offered price predictions for many of the top on the market.
He utilized a method which he refers to as a “Monte Carlo simulation using the geometric Brownian motion model.” Explaining the methodology would probably take its own article. Basically, Young gets historical daily prices, determines daily returns, and uses the data to simulate a price point for the year, many times over.
Unlike other predictions, which offer an exact price, Young’s model provides a range of possibilities.
According to his research, in 2018,
“We can be 95% certain that Monero prices will fall between $88, and $10,338 with a median of $972.”
Readers may remember Smartereum author Adam Web from our recently published NEM Price Predictions article. He recently posted more predictions on March 5, 2018, this time forecasting Monero prices in the coming years.
Web ’s numbers are primarily based on XMR’s anonymous nature. He believes that,
“Many users all over the world are looking for completely anonymous cryptocurrencies in order to transact. This is the reason why this cryptocurrency can gain immense traction among such users.”
According to his article, Monero tokens will be trading at around $650 by the end of 2018 and could be going for as much as $2,000 a piece, in 5 years time.