Cryptotraders are too focused on BTC pairs. Why not pay attention to ETH pairs as well? Look at the XMRETH chart. See that nice, predictable volatility? Ether and Monero aren't strongly correlated. These are two cryptos that with very different concepts and goals, so their prices tend to be uncorrelated (that is, compared with other cryptos).
XMR will release bulletproofs soon, and we might see a temporary 'sell the news' downturn or perhaps stagnation. In contrast, ETH has already dipped over the past week, and we should expect it to regress to the mean, maybe even hitting $400. As a result, ETH may go up against XMR.
I might be wrong, you never know. Maybe Monero will keep going up, perhaps peaking at 0.64. But I wouldn't bet on it. I would rather sell part of the XMR I bought at $80 and hold ether for a while, rebuying Monero all the way down to 0.3 ETH.
XMR will release bulletproofs soon, and we might see a temporary 'sell the news' downturn or perhaps stagnation. In contrast, ETH has already dipped over the past week, and we should expect it to regress to the mean, maybe even hitting $400. As a result, ETH may go up against XMR.
I might be wrong, you never know. Maybe Monero will keep going up, perhaps peaking at 0.64. But I wouldn't bet on it. I would rather sell part of the XMR I bought at $80 and hold ether for a while, rebuying Monero all the way down to 0.3 ETH.
Comment:
It looks like ETH is starting to recover. Keep an eye on ETHUSD and on the daily RSI for XMRETH to have an idea of when to rebuy your Monero.
Trade closed: target reached:
Done.
