We bet that you’ve been excitedly watching the crypto markets over the past month. We know we have. You might have noticed that Monero has been surging over the past few weeks.
In a falling market where the bears kept lurking all over the place, Monero (XMR) managed to go up by 45% over the past two weeks, and it also surpassed more rivals that are sitting in 10th place for market cap according to CoinMarketCap.
Monero proudly sits just behind Cardano (ADA) and above IOTA (MIOTA) occupying the 10th position. The crypto doesn’t show any sign of letting go to this place.
Monero is currently priced at $139.12 on CoinMarketCap.
Potential reasons for XMR’surge
There hasn’t been a single event that triggered such a beautiful surge of XMR. Instead, the coin’s upward trend has been a part of an organic climb for the past few weeks.
Anyway, Monero seems to be making this progression on its own, no matter the sudden positive swing across the crypto markets.
Just recently, an ICO advisor firm Satis Group published a report which claims that there’s a very bullish future for Monero at the horizon. The report claimed that XMR could surge with over 38,000% in the next decade.
“Even though any clear-cut explanations for jumps in cryptocurrency prices are nearly impossible to isolate – it is possible that research published last week by ICO advisory firm Satis Group for Bloomberg has contributed to the bullishness surrounding XMR,” Cryptoglobe reports.
The same report continues and explains that “Using what they describe as a “Top Down” approach to valuation (“using the quantity theory of money to deduce the value of crypto-assets needed to support a forecasted economy”) – the research group’s forecasts for Monero are the biggest by some way – with estimated one-year gains over 1336%, and a 10-year forecast of XMR hitting nearly $40,000 – a projected gain of over 38,000%.”
Anyway, Monero has been having the time of its life during these past weeks and investors should enjoy the returns that this current spike is offering.
