It appears the downward trend for Monero is not over just yet. With the value taking a hit in both the USD and BTC markets, XMR may dip well below US$12 by tomorrow evening. Right now, the currency holds on to this mark, although bitcoin seems to prepare for another bullish run in the next few hours.
Monero Continues Its Downward Spiral
It is not difficult to see things are not looking all that great for Monero right now. The currency’s value has declined for several days in a row now. Earlier today, one XMR was worth just US$10. 75, although things have picked up again ever since. Right now, Monero is trading at US$12.04 per coin, although that price seems unsustainable in the long run.
Volatility in the Monero market creates opportunities for traders and speculators. In most cases, it is only a matter of time until a volatile currency starts to see a significant value retrace. For Monero, that retrace has already begun and it is far from over by the look of things. It is expected XMR will dip to US$11 before Wednesday, although it
Read more ... source: LiveBitcoinNews
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