I predict it will NEVER break its lower support line against BTC .
This chart doesn't quite go back far enough or it would look even better. I'm not going to get all fancy with the charting here but there's a solid and the and are looking perfect. If Monero breaks through it's previous upper resistance, it will be HUGE. For those of you less into the , I assure you Monero is what Bitcoin was supposed to be. Here's a nice quote from Bitcointalk. org from back in 2010, before Monero was created, from Bitcoin's creator himself. Shortly after this he disappeared and Monero was created. Interesting. Who's to say he's not actively working on it today? I personally spend alot of time in the IRC channels and follow the github activity religiously. This project has it's shit together.
Re: Not a suggestion
August 13, 2010, 07:28:47 PM
(responding to other user)
What we need is a way to generate additional blinded variations of a public key. The blinded variations would have the same properties as the root public key, such that the private key could generate a signature for any one of them. Others could not tell if a blinded key is related to the root key, or other blinded keys from the same root key. These are the properties of blinding. Blinding, in a nutshell, is x = (x * large_random_int) mod m.
When paying to a bitcoin address, you would generate a new blinded key for each use.
Then you need to be able to sign a signature such that you can't tell that two signatures came from the same private key. I'm not sure if always signing a different blinded public key would already give you this property. If not, I think that's where group signatures comes in. With group signatures, it is possible for something to be signed but not know who signed it.
This is exactly what Monero can already do by the way, with incredible improvements ahead. Some people stayed in BTC for the money. Many of the true cypherpunk anarchists moved to Monero to create the ultimate tool for financial freedom. XMR will change the world.
If you're a trader, I'd set a fairly tight stop and try to ride this baby up. If it breaks resistance it's going to be gone. XMR is one of my biggest investments and I pray for more chances of lower entry as I accumulate more to put into it. HODL
The reason this interests me so much is because it creates a possibility for Bitcoin to increase it's dominance in the markets. It's yet to be seen how much privacy can be built on top of lightning and other layer 2+ protocols. If this privacy is determined sufficient, it could take away the edge that Monero currently has in the upcoming years. For now, I have around 10x more BTC than XMR. I plan to retain this ratio until more information is available on the direction that the lightning network is headed.
I'm not going to follow my own advice here but from a traders perspective I'd say XMR is near its top. It could certainly break through this top and go much higher but IMO the odds are better for it to run back down through its channel. If not shorting, watch the lower range of the long term trend for a crystal clear buying opportunity and enter heavily.