Here is my opinion, as to why you should trade this coin. This is for entertainment purposes only.
As you can see. This is one of the easiest strategies to trade off of. We saw it when the euro hit the market. Famous investers like Waren Buffet and George Sorros used this strategy at that time with the USD/EURO. and all you had to do was buy the euro on the green line. And sell it on the red line. It works the same with crypto currencies. If you have a ping pong trader bot. That is the strategy I recommend setting it to. That way you can get it the whole way up.
This coin is quite popular on the dark nets. You can profit when a new dark net switches to monero. For example, when the alpha bay switched over to the monero, it shot up in value by 30% over night.
This is so popular on the dark net because it has the ability to conceal the IP address from the sender to its receiver. While bitcoin does not reveal any personal data. It does leave traces of your internet protocol address.
The other reason why monero is a very popular dark net coin is because you don't have to pay, to have dirty bitcoin washed through a professional cleaning service.
This is a secure investment. Just remember that as long as there is a demand for illegal goods and services. An entrepreneur will take it upon them selfs to provide it. That's just how this world is. And if not the italian mafia, the chinese mafia, the mexican mafia, or some kind of organized crime ring is using this coin. That's why the demand for this coin will continue to rise.
You need to keep an eye on the crime watch news. When one of the major dark nets get busted. The demand for this coin will go down. So you need to sell it. Then wait for the new average price to stabilize.
Just earn a decent living serving others. And always set your stop loss below the support line, Just in case of a trend reversal. The dark net is so shady, that we don't have allot of data on the demand for dark net coins out there. The US government guesstimates there to be about 43 billion dollar per year spent on drugs. And this coin seems to be the most popular for the online drug market places.
Buy in: The Green Line
Stop Loss: Set below the support line. Just in case you are wrong.
Target 1: The Yellow Line 25%
Target 2: Half Way to the Red Line (.033) 50%
Target 3: The Red Line 25%
Once you hit target 3, trade short and profit the whole way down.
When you feel like stopping. Think about why you started.
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