To stay ahead of the curve, one must be able to see around the corner.
On Sunday, May 2, our very own Crypto Market Technician, Mr. W, appeared on Monero Talk’s MoneroTopia to provide technical analysis on where the market is headed, particularly with regards to Monero (XMR) and Bitcoin (BTC).
Mr. W offered deep insight into his well-thought-out time and price cycle predictions for both BTC and XMR in the coming years.
Mr. W is an experienced technical analyst and trader who has been charting professionally for almost a decade. He is proficient in statistics, econometrics, derivatives strategies, and fundamental analysis.
Mr. W is an early Bitcoin adopter, early Monero adopter, an altcoin miner from 2013 – 2015, and an active trader of many crypto markets.
Mr. W has a bachelor’s degree with a double major in economic and political science and an MBA with a concentration in finance and investments. His passion for sound money and Austrian economics add to this background to provide a unique perspective on these markets.
All of us here at The Crypto Vigilante (SUBSCRIBE) are bullish on Monero, and Mr. W sees Bitcoin hitting $100K. It looks like Monero’s price is still in the plateau area, which is a good sign that this is not the top yet.
As Mr. W points out in the price report below, the emergence of Wownero (WOW) and Pirate Chain (ARRR) shows a growing interest in privacy coins. Still, it is simply harder to move because of a larger market cap.
The volume of both buyers and sellers is growing, but there is more buying than selling; this may indicate there is more sideways movement before it pops up. Mr. W explains that if the privacy debate continues, Monero may become an excellent hedge.
Check out the complete Price Report here:
If the target for BTC is $100K this cycle, we may be seeing $1,000 for XMR by the end of the year, and the top of the cycle, which coincides similarly to 2017. At least, that is what is expected, according to Mr. W. This may then indicate a bear market next year but it would be less severe.
Many people are predicting that XMR will likely be the third biggest crypto coin in due time.
If you ask me, fungibility is a property of sound money and should be available by default at the protocol level.
When people understand the upside of Monero against Bitcoin, they will see the value proposition.
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