Most of the cryptocurrencies use peer-to-peer technology as a means of payments. But one such cryptocurrency which is widely known and is popular among the users mainly for its privacy-oriented features is Monero.
It is built on one of the most unique blockchain that makes the transaction details anonymous by disguising the address used by participants. Moreover, unlike Bitcoin, mining Monero does not require any additional hardware.
But what can we expect from Monero in the future? Will the Monero price surge or plunge in 5 years?
This composition aims to address all the queries related to Monero, the price of its native token XMR, and the predictions in the future.
Table of contents
|Market cap||$ 7,423,171,410.0000|
|Circulating supply||$ 17,909,127.2616|
|Trading Volume||$ 416,071,971.0000|
|All time high||$ 542.3300 January 9, 2018|
|All time low||$ 0.2162 January 14, 2015|
What is Monero (XMR)?
Monero (XMR) is a privacy-focused cryptocurrency that was launched in 2014. This blockchain forms an underlying technology behind digital currencies and acts as the public ledger of participants that showcases all the transactions on the network.
The unique part of Monero blockchain is, it can be mined using minimum hardware, with the domestic C.P.U’s. Unlike Bitcoin where-in a huge hardware setup is required to mine. And hence consuming less energy comparatively.
The native token of Monero is XMR which initiated trade in the mid of 2014. The founders of Monero decided to remain anonymous, moreover, according to some rumors, Satoshi Nakamoto who is the inventor of Bitcoin, has also invented XMR.
Monero is available for trade on many of the popular exchanges like Binance, Huobi Global, Okex, HBTC, and many others.
Monero Price Prediction 2021
The XMR price maintained an uptrend since the beginning of 2021. The price crossed $160 by mid of January, and by the end of february, the price hit $277 levels. However, in April, the price crossed $300 and is trending above at the time of writing.
Considering the current price rally since the beginning of 2021, the price is expected to hit $500 in the coming days. However, by the start of the last quarter of 2021, the price may trend between $550 to $625. And by the end of 2021, the price may trend around $700, however, if the market sentiments are extremely bullish, the extended bull run may also rally the price close to $1000. But on the contrary, if the bears capture the market, the price is expected to withdraw from the highest levels yet find strong support above $500 by the end of 2021.
Monero Price Prediction 2022
Monero might commence the year with a trading price of between $689 to $700. The price is expected to continue with the rally and reach the mark of $1500 by the end of August. The price could plunge a little and trade around $1147 by the end of October and maintain a similar pattern till the end of 2022.
XMR 5 Years Price Prediction
XMR might surge effectively in the coming five years, but the bearish trend may also haunt the price accordingly. Despite huge bullish momentum, the price may tend to witness a drop in the next five years and may trend within $650 to $989 levels. However, some bullish trends may not be ignored, and eventually, the price may trend above $1100 by 2025.
Monero Market Prediction
1) Trading beasts
Trading beasts predicts that Monero can reach around $388 with a notable plunge by the end of 2021 and would maintain the same range throughout 2022. The price could surge above $600 by the end of 2024 and trend within similar levels.
2) Crypto Ground
Crypto ground states that Monero might reach $438 by the end of 2021. In 5 years, XMR has a good possibility that it might reach $814.
Monero price may rally hard until 2023, where-in it might witness a plunge towards $300. However, the price may rise again to cross $400 by 2024 and eventually surpass $560 by the end of 2025.
4) Long Forecast
Long Forecast predicts a pretty bullish trend for the asset in 2021. According to them the price may soar to trend within $892 and $1026 levels. However, the price may flip to bear market and plunge to $799 by the end of 2025
5) Wallet investor
According to Wallet investor, the price may go up from $402.6 to $420.766 in the coming year and reach $735.93 by the end of 2026.
Our Monero Predictions
With a trading price of $158, Monero started the year 2021. As per our analysis, the price might hit the mark of $775 by the end of 2021. XMR might be a profitable investment in the future. XMR may hit the $1280 mark in the future.
Monero Historial Market Sentiments
In 2014, Monero was launched. Monero did not see much success during its first two years. The coin performed well since the mid-2016 when the price surged above $1 for the first time. By September, the price surpassed $10 and plunged back. However, maintaining the bullish trend, the price closed the yearly trade above $10.
The price at the beginning of 2017 was around $12 which surged historically to reach $132 by September and got declined below $100 by November. It was the time when Bitcoin was swinging to its highs and XMR followed it. By the end of December the price hit the peak at $461 and close the trade for the year with a slight pullback at $334.
The price reached its highest ever levels forming ATH at $495.84 on Jan 07, 2018 and began plunging since then. Byt the mid of 2018, the price fell close to $100 and eventually dropped below the levels in august. It regained the levels above $100 but the short lived rally flipped into bear market and price closed the 2018 trade as low as $48.
In January 2019, Monero (XMR) was valued at about $46. Its price rose and by mid-June it managed to peak at around $120. With XMR closing the year near where it had started, the second half of the year saw a steady fall. The price fell close to $50 by the end of november and by december the price settled around $45.
The price witnessed a steady growth till the mid of February and also fell close to $35 by mid-march. Further price rose steadily and surpassed $100 by the end of August and closed the yearly trade of 2020 above $150 to reach $159.
Yes Monero is definitely a good investment as it may reach a trading value of $270 by the end of 2021.
Monero is a privacy-oriented crypto that is untraceable
The Monero price in the near future is predicted to reach $500 by the experts. However an extended bull run may rally the price close to $1000 in coming 5 years.
A single monero block requires approximately 2 minutes to mine. And hence nearly 720 blocks per day. Considering the reward to mine XMR which is 7.5 XMR per block, one can mine approximately 96 XMR per day.
Yes, you can mine XMR on your laptop or Android phone using the right app.