The graph is clearly bullish. Monero serves a similar function as bitcoin, as a store of value. The long term trend is simply up.
Through 2017, the price ratio XMRBTC fluctuates between 0.01 and 0.035. The recent bounce took XMRBTC from 0.011 to 0.015, signaling the end of the decline. The fact that XMRBTC did not break previous low is very bullish, plus Elliot Wave Count structure is strong.
Bitcoin may decline a little, but Monero will rise far more, especially against USD.
Through 2017, the price ratio XMRBTC fluctuates between 0.01 and 0.035. The recent bounce took XMRBTC from 0.011 to 0.015, signaling the end of the decline. The fact that XMRBTC did not break previous low is very bullish, plus Elliot Wave Count structure is strong.
Bitcoin may decline a little, but Monero will rise far more, especially against USD.
