In this post, we will present our own and market’s opinion on Monero future while discussing XMR price forecast for 2021 and beyond.
Since this year is almost up, Monero price prediction 2021 is way more interesting, so we made sure to include that section as well, just make sure to scroll all the way to the end.
Now, let’s get to it.
Before we delve deep into the Monero price prediction and answer questions if Monero is a good investment or not, why will Monero succeed or fail or while will Monero price rise or drop, let’s quickly do a brief on XMR and its to date history.
When Monero launched, conversations around Bitcoin’s on-chain privacy features caused a spree of privacy-focused projects to enter the digital asset market.
Originally named Bitmonero, Monero emerged as a privacy-focused cryptocurrency based on CryptoNote, a reference implementation for new altcoins many of which were later exposed as fraudulent projects. Monero’s payment anonymity has garnered significant attention from a panoply of crypto-curious persons.
Monero runs a proof-of-work algorithm called CryptoNight, which is friendly toward CPU and GPU mining. New blocks are added to the chain on average every two minutes.
Mining difficulty adjusts after each new block. Monero’s privacy enhancements come from CryptoNote which masks sender identities via ring signature mixing and offers single-use keys to make transactions untraceable.
Monero Prediction 2021
XMR, as the rest of the market, is tied at the hip of bitcoin’s price action. If bitcoin embarks on another bull run, XMR can hope for one as well. Bitcoin usually has a cool-off phase after its mega bull runs and that is when the altcoins take over and have a field day with the bulls, often doubling or tripling their price within days.
With the pandemic breakout, the world was sent into hybernation for couple of mXMRhs and it reflected negatively on the cryptocurrencies, sending bitcoin downhill as we witnessed even 40% daily losses. However, situation quickly stabilized and bitcoin as the flagbearer took the crypto market back up. We are in a major bull run since the summer and, if we are listening to the analytics from social media and journalistic desks, we are far away from its local zenith.
What this means for XMR price in 2021?
As long as bitcoin is in the main role and pulling upwards, there is little room for XMR to shine. It will, however, increase its USD denominated value thanks to the overall rise in crypto prices. Nevertheless, XMR to BTC ratio will probably slump, possibly to all-time lows. This means that it is best to keep your funds in bitcoin until it reaches its provisional peak, opening the doors for the altcoin to enter the scene. XMR will be among the top candidates to record big gains, as the money usually flows from bitcoin profits to bluechip altcoins and big cap coins before trickling down to the less known and smaller projects.
The majority of projects will fail — some startups are created just to gather funds and disappear, some would not handle the competition, but most are just ideas that look good on paper, but in reality, are useless for the market.
Vitalik Buterin, co-founder of Ethereum said:
“There are some good ideas, there are a lot of very bad ideas, and there are a lot of very, very bad ideas, and quite a few scams as well”
As a result, over 95% of successful ICOs and cryptocurrency projects will fail and their investors will lose money. The other 5% of projects will become the new Apple, Google or Alibaba in the cryptoindustry. Will XMR be among those 5%?
Monero has stood the test of time. It’s growth over the last few years has been consistent (200-fold growth) and likely to continue in the middle to long term.
From an investment perspective, even if you personally do not require privacy and anonymity in your transactions, it is undeniable that a significant chunk of the world’s market desire it. This makes investing in Monero a fairly obvious decision.
Monero has been gaining wide acceptance in privacy-centric sectors – which also includes controversial platforms such as websites on the darknet. This raises some concerns around Monero’s acceptability in the long term and whether it’ll face regulatory hurdles. But on the other hand, it is also a sign of its prowess as a privacy-centric coin.
With many other mainstream brands also beginning to accept Monero, its future does look bright. Its developers have exhibited solid dedication to the project, with frequent updates and efforts to keep the network thriving and secured.
All of this summed up means one thing: XMR might live through couple of orchestrated and, for a regular trader, completely unpredictable pumps but the majority of time will be murky sideways trading with small volume and no significant interest from the market.
Price will heavily depend on what BTC will do and since many analysts think BTC will not be making big moves in this year, it is hard to expect XMR will do them either. The price will probably stagnate and record slow-moving depreciation or appreciation depending on the team activity, potential technological breakthrough or high-level partnership.
Market prediction for Monero XMR Price 2021
With the market being completely unpredictable, forecasting the cryptocurrency price is really more of a gamble and luck rather than a data driven guesstimate.
Let’s throw a glance at the eminent publications and personalities, and their predictions regarding the XMR price, which will give us another point of view to consider:
Walletinvestor is a popular website that does technical analysis-based price predictions of various cryptocurrencies. According to them, XMR is expected to drop heavily to $13.38 in one year.
It is a forecasting agency which is specialized to predict the financial market, which has even predicted more than 100 cryptocurrencies. LongForecast predicts that Monero might be in the range of $554-$638 in April 2020 and go up to $810- $945 by December 2021.
Trading beasts display that Monero can reach around $200 by 2021.
Profit Confidential shares the prediction data based on factors like the current market trends, the technology, and the team. They predicted that Monero might soar up to $350 by the end of 2021.
Cryptoground predicts that XMR might rise to $118 by the end of 2020. They even added their version of XMR price prediction 2024, where they stated that XMR might reach $496 by 2024.
Digitalcoinprice gave a slightly positive prediction saying that by 2021 end, XMR might be just 30-40% more valuable than now – $87 per coin.
XMR Future: 2023, 2025, 2030
XMR Price Prediction 2023
XMR Price Prediction 2025
If XMR survives to see 2025, that would mean people became more aware of importance of privacy and defiantly use XMR which would all lead to the token being worth at least 10-100x than its hitherto all time high. That would mean XMR would cost $4500+ per coin.