We are going to do a little price prediction/ analysis and forecast of Monero Cryptocurrency. We will discuss where the coin should be at around three to four year’s time. So, the first thing needs to bring your attention to the fact that Monero is actually in the top ten currencies based on market cap.
It’s actually at the tenth spot right and it has a market cap of 1.3 well almost 1.4 billion dollars. In the list of top ten cryptocurrency shows that it has good growth and adoption. It will stay here for a while which is really good. It might go down to top 20 cryptocurrencies but the growth is an actual question. In the near future, Monero might be between in the top ten and top five. It’s sort of slowly climb the ranks. Maybe towards five within the next three years.
Look at the price action that Manero has been experiencing so far.
If look at the chart on coin marketplace, we can see that Monero sort of started off five years ago which is nice to see. It’s a coin that does have some experience. It’s been around for a while. It was pretty flat and it finally started seeing some adoption. In August of 2016 slowly climbed up and then it really just took off. Right now, it on $91 but once it peaked around $144. Manero will definitely reach that all-time high again pretty soon. You know if you look back at the previous price predictions, it’s pretty common from an arrow to have these spikes and then back down. That was pretty similar to what’s going on right.
Within the next two years getting back above $150 probably being somewhere around you know to $300 by then two years out for sure. In the next couple of months, it’ll climb back to the 150$ range.
Of course, this is sort of dependent on the cryptocurrency space being healthy and doing well. You always want to see Bitcoin up trending. If Bitcoin loses uptrend it probably means that something pretty bad has happened. Some regulatory drama or something in the crypto space which would make the whole crypto world a pretty bad place.
With that being said though the good thing with Manero is that it is a little bit of a hedge against a lot of cryptocurrencies. Since it’s a little bit more of an underground cryptocurrency. It definitely serves a different market and it should continue to see transactions going on. Even if there’s some drama in other coins it will definitely affect that because it is a good hedge coin. It might drop less than other coins.
If there’s some drama which is really good as well another couple thing mention below about Monero is, first of all, has a really nice low supply. We already made price predictions on Litecoin, Bitcoin.
If you check those out you will believe that having a low circulating supply is really important whether you’re investing in stocks or in cryptocurrencies. It’s a big plus and Monero is at 15 million right that’s less than Bitcoin. That is one of the reasons why it had such a price increase. When the quantity is tight you really see some nice growth it’s.
Just sort of how the market works. There’s scarcity so the price just rises away. So, that’s a really nice advantage of Monero. So as far as moving up to one other thing that needs to be mention is if you look at the past 24 hours. Obviously, this is just for the past 24 hours the average volume is around this amount: 27 million dollars transacted in the past 24 hours. That’s really good to see because if you look in the top 10 there are some other coins that aren’t really on par with Monero.
Where does the market cap will be within five years’ time?
It’s fair to say based on how other coins are moving and where other coins might be heading that Monero is definitely going to see a couple hundred per cent increase in the next three to five years. Monero, it’ll be under a 10M$ market cap in five years’ time but you know it might be definitely around five billion dollars in market cap. Can be a bit more, could be a bit less but probably around five billion dollars.
If the general cryptocurrency growth remains constant would be a reasonable amount that would put the coin into. It would be worth a couple of hundred dollars. So, you know in 5 years. It could be around 500$ Approximately.
Based on all the good things Monero has that it has worked for it. It’s definitely one of the better coins out. It’s also fundamentally pretty different – to Bitcoin and stuff. So, it’s a little bit of a hedge a little bit of a different coin. It’s fair to say what it plays to its advantage.