Monero Price Analysis – USD Market Gains Paint A Positive Outlook

Things continue to look rather bad for the Monero market as of late. The currency continues to lose ground against Bitcoin, and fiat currency markets continue to show less of a demand for XMR as well. Despite these negative trends, the USD value per XMR is clawing its way back up again.

A Mixed Bag of Trends For Monero

Cryptocurrency markets are notorious for their volatility, and it appears Monero sees its fair share of unpredictability as of late. With both the USD and BTC volume on the decline, one would expect the price to plummet, but that is not necessarily the case. Or to be more precise, the value in US Dollar value is not declining, but the currency is losing ground in the Bitcoin market.

The dwindling XMR value against Bitcoin is rather surprising, considering the XMR/BTC trade volume has been on the rise over the past two days. With the Bitcoin market, representing 94.4% of all trades once again, it remains the primary indicator of how one should perceive the value of Monero.

As of right now, one XMR is trading at a value of

Read more ... source: LiveBitcoinNews

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