Privacy fans will no doubt be intrigued by the rally in Monero (XMR) today. The catalyst for the rally in Monero (XMR) is supposedly related to the fact that Bitcoin, not a privacy coin, was involved in a justice department bust of a massive online child porn operation. According to news, the NY firm Chainalysis helped investigators read transactions on the Bitcoin (BTC) blockchain and trace them back to the sources. One of the keys to the bust was the blockchain was used to trace transactions back to exchanges. The Know Your Customer (KYC) research done by exchanges
Just looking at the chart, Monero (XMR) could head towards a big Fib speed line at 64. Monero (XMR) has broken the heart of the bulls each time it has approached and rejected that level. XMR has hit that speed line five different times and been rejected.
Bottom Line: We respect what could happen on the upside in Monero (XMR). That said, whether or not a coin is or is not involved in a crime is a good reason to invest.
Just looking at the chart, Monero (XMR) could head towards a big Fib speed line at 64. Monero (XMR) has broken the heart of the bulls each time it has approached and rejected that level. XMR has hit that speed line five different times and been rejected.
Bottom Line: We respect what could happen on the upside in Monero (XMR). That said, whether or not a coin is or is not involved in a crime is a good reason to invest.