What’s interesting is that Monero was among the many cryptocurrencies that helped the market climb to $334 billion previously, but some experts, however, think that Monero still has a lot to go. The main question is, however, will Monero rise?
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With the current developments on the market and the high fluctuations in almost all major cryptocurrencies, Monero was not an exception.
f you are wondering what made this improvement in terms of price for Monero, there are a couple of factors. The most obvious one, however, is the fact that the cryptocurrency activated its semi-annual hard fork this April 6th, bringing a host of new upgrades. Still, one of the major upgrades threatens to split the network into two competing chains. Earlier this year, Monero announced its intention to update its instance of the Cryptonight Proof-of-Work (PoW) mining algorithm – in order to prevent mining hardware manufacturers from developing Monero-compatible Application Specific Integrated Circuit (ASIC) miners.
This year looks like it could be the best year for Monero so far. According to multiple technical analyses, Monero is likely to get to the range of $550-$630 by the start of the next year and even live to see Monero reaching a stunning $1000 by 2020. Also, John McAfee as one of the most popular influencers on the crypto market predicted that monero has the greatest advantage and opportunity to challenge Bitcoin as a leading cryptocurrency.
Monero has a very bright future ahead of it, although bold predictions are always very courageous to make and people can get disappointed when they don’t come true, Monero does have the best shot of reaching these price goals.
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