If we are looking for a coin that can rise above all the rest and become a competitor against bitcoin, I would have to say it is monero. Though it will not replace bitcoin, after all bitcoin is king in this arena. It will however become it's bitter rival.
Monero has an awesome white paper. If we are to look at it from a TA perspective, it is the only altcoin that I have found so far that does very well in the market. If we look at the chart, we see that it climbed very well since June of 2014. If we take a look from 2014-2017, monero is probably the only altcoin that didn't depend on bitcoin dominance until 2018's price manipulation. So since Decemember of 2017, monero has followed the bitcoin trend because of market manipulation. If not for that, I believe that it would have continued its climb to the moon.
At this price, it is a good deal for the late newcomers to the cryptoworld. Do I believe that it will still go down further? Yes I do because of all that is going on and the price will even be a better bargain. I also believe that once bitcoin changes course, monero will follow the trend until it hit it's regular healthy trend up.
I do not own any monero, but will soon. This is an educational analysis. DYOR.
Monero has an awesome white paper. If we are to look at it from a TA perspective, it is the only altcoin that I have found so far that does very well in the market. If we look at the chart, we see that it climbed very well since June of 2014. If we take a look from 2014-2017, monero is probably the only altcoin that didn't depend on bitcoin dominance until 2018's price manipulation. So since Decemember of 2017, monero has followed the bitcoin trend because of market manipulation. If not for that, I believe that it would have continued its climb to the moon.
At this price, it is a good deal for the late newcomers to the cryptoworld. Do I believe that it will still go down further? Yes I do because of all that is going on and the price will even be a better bargain. I also believe that once bitcoin changes course, monero will follow the trend until it hit it's regular healthy trend up.
I do not own any monero, but will soon. This is an educational analysis. DYOR.